We're more than a month into this pandemic and we're learning many of you are still moving forward with your plans to buy your dream home. You have important, personal reasons for buying at this time, and you're committed to buying in a manner that respects social distancing. As we continue to assist many of you during the pandemic, we thought it would be interesting to share why some of you are choosing to buy right now, at a time when others are putting their plans (or being forced to put their plans) on hold.
Why you're buying a home or condo during the pandemic
Here are some of the main reasons why many of you are choosing to buy right now, even though there's so much uncertainty in the world around us.
1) You want your own safe haven and sanctuary during these uncertain times.
For some of you, the pandemic is motivating you to buy. You want a home that offers safety and security for you and your loved ones.
2) You're reminded by the pandemic that life is short and there are no guarantees.
Some of you are making a conscious decision to not put your life on hold and to keep moving forward with your dreams and goals. You're intentionally pursuing your goals right now and choosing to live your life right now.
3) You want to take advantage of historically low interest rates.
You realize you have more purchasing power than you had a few months ago, and an opportunity to lock in a lower monthly payment.
4) You're done with paying rent.
Your lease will be up soon, and you're ready to take the leap from living in an apartment to owning your first home.
5) Your household is growing and it's time to move into a larger home.
You might have a baby on the way. Perhaps your parents are moving in. Or maybe you and your kids are in need of more space. It's time to find a home that will accommodate your growing household.
6) You're ready to down-size and move on to your next stage in life.
You're looking forward to retirement and you're ready to live the good life. You want a home that requires minimal upkeep as you explore new hobbies and travel to new places.
7) You view real estate as a long-term investment that will pay dividends down the road.
Regardless of what happens over the short-term, you fully expect your purchase to be a solid investment for the long-term. You've studied the fundamentals of the Madison area real estate market, and you're confident your investment will positively impact your future wealth.
We're here to help you when you need it
This has been a tough Spring for all of us. Unfortunately the pandemic has changed the financial position for many of us in our community and forced some of us to put our dreams and plans on hold. If you've been forced to postpone your own real estate plans, please know we're available to help you plan for your future. And when the time is right, we'll be here to help you buy your dream home when you're back on solid ground.