If you have been looking for your first home, or even to upgrade your existing home, now is a great time to purchase real estate in Gilbert for a number of different reasons. While you may not be 100% ready to take that step, if you look at current trends in real estate in Gilbert and the surrounding area, you’ll see that you can’t afford to not take action.
If you’ve been paying close attention to the real estate market in Gilbert you’ll see that home prices are on the rise; in fact, between this time last year and this time next year, it is estimated they’ll rise by about 12%. If you’re trying to stick to a budget when purchasing your home, this drastic price increase could severely impact how much home you get for your money. Also on the rise are mortgage interest rates; they’re expected to increase by about 1% by next year, which could also put a damper on exactly how big of a mortgage and a home you end up purchasing on the real estate market in Gilbert.
Not only are there financial implications to waiting to purchase real estate in Gilbert, there are other things to consider as well. The number of buyers currently on the marker is minimal but with the summer months approaching and local and out-of-town buyers beginning their search for real estate in Gilbert, your competition for the right home for you is quickly getting a bit more fierce.
If you still aren’t ready to begin your search for real estate in Gilbert it still might not be a bad idea to keep an eye on current market trends such as home prices, interest rates and how long homes are staying on the market. You don’t want to put off your real estate search in Gilbert until it’s too late.