Now that the new year is here, you may have started to think about your goals and make plans for the coming months. If your goals include moving into a new home in Chetek WI, then you’ll be glad to hear that 2018 will be the perfect timing to make those dreams a reality! Below are five reasons why this year is ideal for buying a home in the Chetek WI area:
Rates are increasing
Before we know it, these historically low mortgage rates will be a thing of the past. In fact, over the next 11 months, interest rates are expected to rise two to four more times and by the end of the year, Chetek WI buyers can expect rates to be around 5 percent.
Prices are increasing
If buying a home in Chetek is on your agenda, you won’t want to wait too long as home prices are also on the rise. Waiting to buy later in the year as opposed to now could mean that you’ll end up paying much more for the same property in just a few months time! But don’t get too carried away with this 2018 prediction as we are expected to see more moderate price increases than we have in the past year.
Inventory is returning
Great news for Chetek WI buyers! 2018 is projected to be the year that more inventory returns to the local real estate market. While you may not have had too much to choose from recently, the next year is expected to bring more properties to the market, especially in the middle to upper price ranges.
Competition is growing
As the real estate market heats up, so too will your competition. Equity has returned for many homeowners and the number of people now in a position to purchase homes is growing. As I mentioned above, if you prolong your home purchase, you may find yourself competing with a larger number of buyers!
Your savings will grow
If you’re new to the real estate market and buying a home in general, you may not be aware of the benefits homeownership affords you. For instance, owning a home is a means of forced savings— you are growing equity in your home and thus, contributing to your own wealth, as opposed to a landlord’s if you chose to rent! Not to mention, by locking in an interest rate, you will have a steady payment, unlike the rising costs of rent that will vary from year to year!
We look forward to hearing from you!
Six Lakes Realty
Office: (715) 924-4806