Why 2021 Is Your Year To Buy A House

2020 brought us an entire year of uncertainty and this spilled over into 2021 with the pandemic.

The whole world was thrown into lockdowns and with social distancing and COVID restrictions, house buying wasn’t at the forefront of people’s minds in 2020. 2021, however, is proving to be different. We’re halfway through the year already, and the housing market has had more sellers than it has been for the buyers, but the buyers are still there and still clamouring for a new home. Those who have put their homes up for sale have seen some huge successes, but that doesn’t mean that it’s too hard to buy a house. On the contrary, with restrictions lifted, we’ve got some of the best reasons that you should choose to go ahead and buy a house this year.

Interest Rates Are Low

Right now, there is a huge financial strain on the markets and individuals looking to buy a house. There has been some decisive action taken, though, that lowers interest rates substantially. This means that the average house buyer out there has lower interest rates on a new mortgage, and Trufe experts can explain it better to you! Since interest rates are established to meet the fluctuations of the financial markets, you could choose to lock in those interest rates right now and benefit from them. These current rates may not exist a year from now, which means that striking now while you can will give you a smaller interest rate to look forward to. This will save you a huge amount of money over the course of your mortgage, which will never be a bad thing!

Everyone’s Buying

As we said, not only is it a great market for the sellers out there, but it’s still a great market for those looking to buy. The pandemic brought most of the good things in life into freefall before hitting standstill, but that doesn’t mean that the local real estate markets closed their doors entirely. Yes, they still suffered during the pandemic, but there were a lot of buyers and sellers left waiting and now they’re all rushing to buy and sell their homes! The summer months mark the high season for home sales, and now that restrictions are easing and the weather is warming up, buyers and sellers are ready to get going with their homes. The demand is expected to outstrip supply, so you want to get in there where you can so that you don’t have to worry about missing out once again.

Improving The Economy

Everyone went through emotional and financial hardship in 2020 and now that the numbers for employment and the economy are looking good, it’s time to buy. You will find that you’re not the only buyer on the lookout for a good deal on a new house. You could end up in a bidding war, and you’ll be improving the economy by buying a new house. Those who took in stimulus checks and who did their best to plan ahead will have hopefully saved some money throughout the pandemic where possible. This can only go further to help in your quest to buy a home. Take the time to figure out whether you are able to feed back into the economy with a house purchase – then go and find the right house!

Bigger, Better Equity

Given that so many people chose not to sell their homes in 2020, they turned instead to renovation projects. These renovation projects serve to add value to their homes, so you can bet that when you are searching for the perfect house, you’re going to find one that matches your needs. The demand for home improvement goods was so high that the whole first half of 2020 saw people selling out most hardware stores in their efforts to DIY! Reinvesting time and effort into their homes, sellers have managed to create a whole new atmosphere for their house, and buyers are now in the position to take up those sellers on their genius. 

There are going to be other buyers out there, and you will not be the only ones to put in any offers. However, you should consider that you can still make a great offer and end the year 2021 on a high with your brand new home purchase. Are you ready to get started with buying your new home? Speak to the experts and figure out whether you are in the right position to be a homeowner.