Is Now A Good Time To Buy A Home

Performance Property Real Estate Question

Q: Is now a good time to buy a home? Meredith, Clifton, NJ

A: A recent gallup poll revealed that a record low percentage of Americans (both among homeowners and renters) thought that now was a good time to buy a home? This pessimism shows that the coronavirus blues have set in in many places understandably. Any big purchase like a home should be made with a focus on your individual financial goals and personal financial situation. Putting aside investment property for a moment, mortgage rates are at all time lows which makes now one of the best times to buy or refinance an owner-occupied home at a fixed interest rate. Every 1 point drop in interest rates increases your buying power by almost 10% and if you buy or refinance now, today’s historically low mortgage rates will result in a substantial reduction in the overall mortgage interest you’ll pay over the life of your mortgage loan. Thanks for your question, Meredith.

For more real estate tips and information visit my blog at