Why Now Is the Best Time to Purchase a New Home

The old adage goes, “The best time to buy a house is always five years ago.” However, if you didn’t purchase a home five years ago, don’t worry. There is a second best time, and it is now. Even with the somewhat frightening news about inflation and mortgage rates, real estate has, and always will be, one of the smartest investments. 

Mortgage expert Ivan Simental discussed this very topic on a recent episode of The Mortgage Reports Podcast. At the end of the day, Simental said it’s not a matter of finding the ultimate, perfect time to buy a house. It’s about settling on the right time to buy for you specifically. And when you are ready? The sooner you can buy in, the better.

“You never, ever try to time the market – it’s always best spending time in the market,” Simental said. “We know that historically, real estate has appreciated. If we look at it over the last 100 years, it has gone up. So take advantage of being a homeowner,” he continued.

With the cost of housing in Denver, it may be tempting to wait and see if prices will go down. However, if you’re waiting for prices to go down, you may be waiting forever. In fact, the odds of home prices dropping in the next 12 months for the Denver Metro area are low to very low, according to a recent data analysis from Corelogic.

Check out the infographic below:

Graphic: Fortune.com

Another reason to buy now, specifically toward the end of 2022: we are experiencing the typical seasonal market shift in Denver and there are more options for buyers than there were a few months ago. There is less competition, showing up in an increase in days on market and price reductions. In fact, there were more than 2,000 price decreases among listings in Denver metro in the past 7 days. 

Yes that’s all fine, but the rates are too high, you may argue. Mortgage rates are higher than they have been in the past two years, but they are still historically low. And there’s no telling when or if they will go back down. 

As if you needed even more incentive, at BLVD Builders, we are offering special financing on two Edgewater Crossing units with an awesome 4.875% fixed rate*, well below the typical 5-6% being offered right now. 

6131 W 28th Ct (Listed at $840,260)
6139 W 28th Ct (Listed at $850,260)

Both units are built with The Wynkoop floor plan, which features:

  • 1,860 Square Feet
  • Townhome
  • 3 stories
  • 3 beds + study
  • 2.5 Baths
  • 2 Car attached Garage
  • Rooftop deck with gorgeous mountain views
  • Fronts to pocket park
  • September move-in estimate

If you’re ready to invest in your future by purchasing a brand new home, then contact our sales team today. We’ll help make your dream become reality and get you into one of our amazing homes before you know it.

We leave you with this quote:

“The wise young man or wage earner of today invests his money in real estate.” – Andrew Carnegie

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