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A lot of people have been asking me this question lately, and I'm going to provide you with some pretty convincing reasons why now is the time to buy a home.
Interest rates and appreciation are both reasons to buy a home now. We're seeing historically low interest rates right now, and if you invest in a decently priced home now, it could really pay off when that home appreciates and you go to sell it in 4-6 years. The thing about this investment is that you need to buy soon because interest rates will rise - and it's not a matter of when - it's a matter of how much. Where interest rates stand right now, it's very hard to think that they could possibly get any lower.
This is a golden opportunity to invest in real estate right now. I am investing in a small apartment complex right now, and I'll be clearing at least $1,000 a month, and that's a no-brainer. Also, rent prices keep rising, so this is a worthwhile investment. Rising rent prices should also be a concern for potential homeowners, because why pay someone else's mortgage every month?
My only advice is that you shouldn't wait to buy. If you need any help purchasing in Salt Lake this summer, please don't hesitate to contact me!