It can be quite challenging to decide to delve into the bidding battle of the Metairie real estate market. It can be honestly overwhelming, especially at this time we are. Yet, despite the seeming odds, there are still reasons why getting that dream house, family home, or retirement home in NO LA is not a bad idea.
At the moment, we can call it an excellent time for sellers in the housing market. Especially here in the US. There are bidding battles everywhere, and house costs are going well as opposed to asking.
At the moment, if you are considering checking Metairie houses for sale, don’t feel deterred. You have no worries. There are significant benefits of getting that house you want right now.
There are some things you should know. Number one is that there’s more inventory available than you know. So investors have the opportunity to jump on the current availability of the 1031 exchange. Also, interest rates are still low.
So do not allow timidity to stop you from checking out Metairie homes for sale.
Here are three things you should know about why you can still dive into Real estate purchases in Metairie right now:
There’s An Array Of Houses Available For Sale
It has been a big complaint or issue for real estate agents for many years that landlords of desired houses hardly choose to sell their abodes. And these houses are usually in prime locations!
However, the possibility and encouragement of remote working these days have given homeowners in such shoes a new perspective. Most of them would now rather sell and cash out big than move to areas with lesser living costs.
Even picky buyers now have an array of choices, unlike before. Almost all houses for sale these days have all the features that nearly all house buyers would love. So go for it!
Owning Trumps Renting
One thing to note as a tenant is that you are only adding to the luxury of your landlord when you keep paying rent. Your landlord could increase the rent at will. He could even evict you too.
Nothing beats the feeling of owning your own house. Apart from giving you accommodation security, it also means you have an asset! And a cumulation of assets is what results in wealth.
Interest Rates Are Low
Research shows that, at the moment, precedence shows that rates are pretty low. Thus, buying a house at the moment means you will not be paying more to borrow more money.
A report says that Wells Fargo is giving 2.875% based on a mortgage of 30 years. Meanwhile, NerdWallet posits that the national average is 2.838%. Mortgage reports website also stated that way back in 1981, that figure was 18%. And barely 20 years ago, it brushed 7%.
Over the last 40 years, the percentage has been on the decline. But it would be silly to think it’d keep falling or continually be on a low. To be more candid, forecasters foresee a hike in a year.
You don’t want your mortgage making money off you that could have been used to do something more meaningful. A slight 1% rise in say 40 years could be a considerable cashlift for your money lender.
Need To Buy Real Estate in Metairie, LA?
Demand Realty has access to the best Metairie homes for sale. Even when it comes to rentals, you can trust Demand Realty to get you the best deals. And our agent rates are very reasonable. You won’t find it anywhere else. Find an agent here: https://demandrealty.com/find-an-agent/
Or contact us for all inquiries: https://demandrealty.com/contact/