With inflation rising, you’re likely feeling it impact your day-to-day life as prices go up for gas, groceries, and more.
These climbing consumer costs can put a pinch on your wallet and make you re-evaluate any big purchases you have planned to ensure they’re still worthwhile.
If you’ve been thinking about purchasing a home this year, you’re probably wondering if you should continue down that path or if it makes more sense to wait. Here’s how homeownership can help you combat the rising costs that come with inflation.
More Homes are Available for Sale
The combination of more homes coming onto the market and a slower pace of home sales means you’ll have more options to choose from as you search for your next home.
That’s great news if you’ve been searching for a while with little to no luck. Just remember, there isn’t a sudden surplus of inventory, just more homes to choose from than even a few months ago.
So, you’ll still want to be decisive and move fast when you find the right home for you.
And when you do, you may be faced with less competition from other buyers too. If you’ve been waiting to jump into the market because the intensity of the bidding wars was intimidating or if you’ve been outbid on several homes, this moderation could help make the home buying process a bit smoother.
It’s not that it’ll be easy or that bidding wars are a thing of the past – that’s not the case. But it won’t feel nearly as impossible.
The first step is getting pre-qualified to determine just how much you can afford. Start now and get one step closer to that dream home!