Why You Should Still Consider Buying a Home in 2022

There’s only five months left in 2022, and here in Northeast Florida the number of listings on the market continues to grow. With more homes becoming available for purchase, you may feel conflicted when considering whether right now is the time to buy. Buying a home this year won’t be the right move for everyone, but it certainly will be for many. Here are 4 reasons why you should still consider buying in 2022.

1. Home Values Continue to Rise - Think Beyond the Short Term

Over longer stretches of time, home values continue to rise. It’s part of the reason why so many multi-millionaires have made their money in real estate. Whether it’s your primary residence or an investment property, if you are not looking to do a fast flip, then think of the investment in the long term instead of the short term. In the next year prices could fall (or they could rise), but in the next 10 years home values are almost certain to increase for a return on your investment. If you find the property you love, try looking at the long term potential it has instead of a changing market in the short term.

2. Interest Rates are Still Historically Low

Watching the interest rates rise can certainly be challenging. In our last point we encouraged you to look further into the future, now we encourage you to look further in the past. Interest rates are still hitting historically low levels, and you can still make a great purchase that’s within your family's budget. It can be hard to avoid feeling like you “missed out on a good deal”, but consider the rates in regards to historic rates and look out for incentives from motivated sellers and certain loan programs to help keep the overall cost down.

3. There are Still Good Deals Out There

The last point brings us right into number three: there are still good deals out there. This is where having an experienced Realtor who knows how to search the market, juggle multiple incentives, and negotiate on your behalf comes in handy. There will always be motivated sellers and sellers who are willing to give up some cash for a quick sale. People who need to relocate, have inherited a home they would like to sell, or have decided they no longer want to manage a short-term rental can be some of the most motivated sellers. Don’t fall into the thought that there are no homes on the market that are a good buy and within your budget; with the proper strategy the right home for you may be just around the corner.

4. Don't Wait to Start Building Wealth in Real Estate

Like we mentioned before, many people have built their wealth in real estate! Our owner, Sarah Rocco, has purchased an additional investment property this year and she encourages buyers to become a little less personal with the home you are buying. If you can start to see real estate from a business lens, suddenly your eyes open to the investment potential of buying the right property in almost any market. If it’s your first investment property, it can be difficult to make this mindset shift, but we would be happy to have one of our team members help coach you through the process and show you the opportunities that are out there.

On top of Sarah’s investment property and three more of our Roccstars that have bought homes this year, we are set to help 150+ buyers find the right property for their individual real estate goals in 2022. Don’t set aside your dreams without completing the due diligence to see if it may be the right time for you to buy. At the end of the day it may be right for you to wait, but it also could be a great time to buy! Assess your goals, know your wants & needs, and consult an agent before you abandon the decision to buy in 2022.