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Are You Wondering if This Is the Year To Buy a Home?

March 16, 2022 By Tami Savage

Are You Wondering if This Is the Year To Buy a Home?

Every year, many renters ask themselves the same question: Should I continue renting, or is it time to buy a home? If you’re a renter, chances are you’ve asked yourself that question at least once, and it’s likely because you’ve faced an increase in your monthly housing costs over time. After all, according to Census data, rents have risen consistently for decades.

To make an informed and powerful decision, the first step is understanding what’s happening in today’s housing market so you can determine which option is the better long-term financial decision for you.

Rents Are Going Up Again This Year

Rents are skyrocketing right now. Data from realtor.com shows just how much rental prices are surging throughout the country. The graph below highlights rental unit price increases over the past year:

Rental Prices are Skyrocketing this Year

If you’re a renter and plan on signing a new lease, your monthly costs are likely to go up when you do. Those rising costs can have a big impact on your financial goals, including any plans you’re making to save for a home purchase.

Homeownership Offers Stable Monthly Costs

Of course, one of the key benefits of owning your home is that you’re able to lock in and stabilize your payments for the duration of your loan. That’s not the case when you rent.

While rents are already on the rise, there’s a good chance many people will see their rental costs increase even more this year. As Danielle Hale, Chief Economist at realtor.com, says:

“With rents already at a high and expected to keep going up, rental affordability will increasingly challenge many Americans in 2022. For those thinking about making the transition from renting to buying their first home, rising rents will remain a motivating factor. . . .”

So, if you’re ready to become a homeowner, waiting any longer may not make financial sense. Instead, escape the cycle of rising rents and enjoy the many benefits that come with homeownership today.

Bottom Line

Starting your journey towards homeownership can pay off significantly this year. If you’re financially ready today, let’s connect so we can discuss your options.

Tagged With: First Time Home Buyers, For Buyers, Rent vs Buy

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Free eGuide. Things to Consider When Selling Your House. Send me this eGuide.

Free eGuide. Things to Consider When Buying a Home. Send me this eGuide.

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Baby Boomers Buying Myths Community Demographics Distressed Properties Downloadable Down Payments First Time Home Buyers Forbearances For Buyers Foreclosures For Sale By Owners For Sellers FSBOs Garden Generation X Generation Z Gen X Gen Z Holidays Home Household Management Housing Market Updates Infographics Interest Rates Interview Investors Lifestyle Luxury Market Millennials money Move-Up Buyers moving New Construction Pricing relocation Remodel Rent vs Buy Report Reviews Selling Myths Senior Market Short Sales Veterans Video

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 • Serious buyers are actively searching right now.
 • The limited supply of homes means yours could stand out.
 • Holiday season could bring more flexible showing schedules.

Thinking of selling? DM me and let’s strategize the best plan for your home.

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Low unemployment rates mean a stable housing market, with no signs of a foreclosure wave.

Got questions about the market and your home? DM me for a chat – let’s dive into the details together.

https://tamisavage.com/why-the-economy-wont-tank-the-housing-market/
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1. Your personal safe haven.
2. A space that reflects YOU.
3. A community of friends and neighbors.

Ready to find your dream home? DM me to start your journey!

https://tamisavage.com/why-homeowners-feel-thankful-for-their-homes-infographic/
Home is where the heart is, and homeowners know it Home is where the heart is, and homeowners know it best! 🏠💖 Here's why many are thankful:

🕊️ A sanctuary of peace.
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🎉 A memory maker.

Ready to find your own slice of happiness? DM me to start your home-buying journey.

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🍁 Home prices got you puzzled? It's all about s 🍁 Home prices got you puzzled? It's all about seasonality! 📊 While some say prices are dropping, the truth is, they're just following the usual yearly pattern.

🌸 𝐒𝐩𝐫𝐢𝐧𝐠 = Peak demand
☀️ 𝐒𝐮𝐦𝐦𝐞𝐫 = High activity
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It's normal, and it's happening now. No drastic drops, just a more moderate rise. For the real scoop on local home prices and how this impacts your plans, DM me.

#HomePrices #MarketSeasonality #RealEstateFacts #DontBelieveTheHype #HomeBuyingAndSelling
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Navigating the market doesn’t have to be confusing. DM me to discuss your real estate plans as we approach the new year.

https://tamisavage.com/are-the-top-3-housing-market-questions-on-your-mind/
📈 Home inventory update! While there's a bit mo 📈 Home inventory update! While there's a bit more on the market now, we're still far from pre-pandemic levels.

𝐓𝐡𝐢𝐧𝐤𝐢𝐧𝐠 𝐨𝐟 𝐛𝐮𝐲𝐢𝐧𝐠? More options, but stay ready for competition.
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To get the latest digital copy, go to https://tamisavage.com/the-spring-guides-for-buying-and-selling-a-home-are-here/
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SOURCE for Data in Video: 
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 • https://himaxwell.com/resources/ebooks-white-papers/1h-2022-millennial-genz-borrower-sentiment-report/#downloadnow
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Data Source: 
 • http://www.census.gov/housing/hvs/files/currenthvspress.pdf
Avoid the Rental Trap
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