Zillow, a national resource for all things real estate, recently published “4 Reasons to Buy a Home This Spring,” on their Market Blog. In the article, they detail exactly why spring 2015 could be an ideal time for home buying – here’s how!
1. Ideal Mortgage Rates
- As of late, homebuyers have been spoiled by historically low mortgage rates. It comes as no surprise that rates are expected to rise (1% by the end of this year, Zillow reports), leaving many to wish they locked in a low rate sooner. This spring is a great time to settle in with a low mortgage rate you’re happy with – before they begin their ascent!
2. More Confidence
- The ZHCI, Zillow’s Housing Confidence Index, measured a higher level of confidence in the housing market now than what was recorded just last year. More and more people are recognizing the major improvements in the market and making moves to take advantage of the gains - as should you!
3. Higher Rents
- Rental affordability is down across the United States, with renters expecting to spend 30% of their income on rent alone. On the other hand, homebuyers are expected to spend just 15% of their income of their mortgage payments. This alone has lead many renters to reconsider, building a strong case for home buying this spring.
4. Better Loan Availability
- According to Zillow, “getting a mortgage is significantly easier than it was a year ago.” Borrowers may have more choices when entering the market, allowing them to find the option that works best for them and their buying process.
With the ‘perfect storm’ of housing market factors, along with incredible opportunities to buy new homes, homebuyers certainly have the upper hand this spring season.
Here at Van Metre Homes, we’re so proud to bring stunning new homes to the Northern Virginia and West Virginia regions. With new home communities in Aldie, Ashburn, Stephens City and Winchester Virginia and in Charles Town and Martinsburg, West Virginia, our new homeowners have no trouble finding a new home and community that suits their needs.
And with Van Metre Homes, new homeowners will find even more to smile about – our luxury features and finishes go above and beyond, providing added value that would typically cost extra with other builders. Homeowners can expect hardwood flooring, new carpeting, granite countertops, upgraded appliances, designer cabinetry and so much more in their new Van Metre Homes home!
Source: Zillow Blog