Is Now the Right Time to Buy?

Do Your Homework. Start preparing today to buy a home tomorrow.

Is now the right time to buy? Many new homebuyers think so. They point to diminishing housing starts, more accessible pricing and mortgage rates at all-time lows as reasons to purchase today. Add to that an $8,000 tax credit through November of this year and many experts are pointing to the 2009 second quarter housing market as the right time to purchase a new home. In fact, the National Association of Realtors just reported that due to historic rates and adjusted home prices, we are now facing one of the most affordable home markets since the 1970s.

Today's new homeowners prepared themselves for their right time to buy and as a result they've been able to purchase in prime locations for a greater investment. Before buying a new home, they did their "homework." Whether you're planning on buying today or waiting until the time is right for you, you should start preparing now:

Make A List

Prioritize what your needs are for a new community. Schools? Nearby conveniences? Recreational opportunities? Commute times?

Pre-sale or move-in ready?

Determine whether you want to purchase presale, which allows for some personalization, or move-in ready for a quick closing. If you buy new, depending on where you purchase in the construction schedule, you may be able to choose from countertops, flooring, technology packages, even, in some cases, floor plan customizations.

Take a "test drive"

Walk the neighborhood. Carefully review the floor plan. Imagine how you'll lay out your own furniture. Will your grandmother's antique dining room set fit in the formal dining room? Is there room for your cousins who visit each summer? Can the home "grow" with you or change as your lifestyle evolves?