Good time to buy a house?

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Do you need to buy a house right now? If so, yes. If you don't need a house, no.

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If you don't need a house, throw that in HYSA or something short term with a guaranteed 5% return or so and sit on it. If you feel like moving or pursuing other opportunity, you won't be tied up in something that felt like a "it's time to buy because some nerd on the Internet said so" situation

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I'm in the process of buying right now, signed for a home and meeting with the lender tomorrow.

I think it's a good time right now because interest rates are slowly dropping this year. If you wait too long, everyone that's been waiting to buy a house since rates have been up will flood the market as soon as the rates come down, causing home prices to skyrocket. Not to mention bidding wars for homes.

If you buy a new build from a builder, they are offering incentives. For example, if I use my builder's lender, they are offering to refinance in the future for free when rates drop and are offering to cover some of the closing costs. Also, home prices will just keep going up in the future.

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The builder is called Terrata Homes. I'm buying in Manor. It's 20 minutes away from everything and the area is growing.

I haven't even closed on my house yet and it already appreciated 20k more than what I signed for it.

It’s definitely a *good* time if owning real estate is one of your financial and investment goals! The *right* time is always a matter of personalized factors, specific needs, etc. Right now the Austin area has some of the highest inventory (total number of homes available) than we’ve had in the past 8 years, following on several years of the lowest inventory ever. This combination along with pent-up buyer demand and improving trend for interest rates means that if there’s a house that will specifically work for you in a price point that yields a monthly payment you’re comfortable with then I’d say go for it. The way I look at it is it doesn’t hurt to at least collect the data in advance (reviewing scenarios with a local lender) for what your purchase numbers and monthly payment options could look like with a range of down payment options. From there you can have an agent start a soft search and provide some examples of what’s currently available. This frequently helps identify if you’re actually happy keeping renting for a while or if you like the options available to dive a little more on your search. I moved here in 2013 and definitely should have purchased sooner from an equity (appreciation) perspective, but I very much enjoyed living in the rental I had when I first moved to town. Happy to help you if you’d like! Jlind@firstunitedbank.com. We are the number one lender in Austin and a family-owned bank with billions under management.

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Probably, once rates drop prices likely to go up again

This is exactly what I was thinking

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