You might be wondering why you should buy a house now as opposed to waiting. Right now there is an excellent opportunity to purchase a home in many areas in Metropolitan Detroit at low prices.
Real estate values are expected to rise in several Metropolitan Detroit neighborhoods
Real estate is expected to increase in value in several neighborhoods over the next 3-5 years. Speak with a real estate expert to get more information about these specific areas that present good buying opportunities.
Interest rates are expected to rise soon
Although, interest rates remain at historic lows, they are expected to rise soon which means that the opportunity for a low interest mortgage is starting to close. If you plan on buying in the next 6 months or sooner, you can still capitalize on low interest rates and buy a home with manageable mortgage payments.
Rent prices may rise in your area
As mentioned earlier, home prices are expected to rise in the next 3-5 years in several Metropolitan Detroit area neighborhoods, which means that rents may also increase.
Why buy a house now in the Metro Detroit area? Ask an expert.
It is always a good idea to get the advice of a real estate professional before you plan things out. Contact us today to ask any questions you may have.