I can’t recall ever telling buyer clients that “now is the best time for you to buy a home!” But I have often counseled clients through the evaluative process of whether now could be the right time for them to spend hundreds of thousands of dollars.

Q: Is now the right time to buy a  home in Charlottesville? 

A: Maybe. It depends.

These are some of the reasons to buy a home in Charlottesville this year … as told, unprompted, by some buyer clients this year.

1. I’m tired of renting.
2. Interest rates are so low, it would be crazy to not at least consider buying now.
3. With where we are in our lives, buying is the right thing to do now.
4. I’ve lived in Charlottesville for a few years and feel settled in enough to consider buying.
5. We’re planning to be in Charlottesville for a while.
6. Interest rates are going to go up.

And then some thoughts about the buying process:

• “We know enough to know that we need guidance. It’s been a long time since we bought a home and a lot has changed since our last home purchase. “
• Right now, inventory in Charlottesville and Albemarle is exceedingly poor; choices are slim, and good homes are moving fast. Having someone (me, for example) on top of the search is critical.
• Planning, laying the groundwork in advance of having to make a rapid decision, is one of the most important components of the buying process.
• Context matters.

Questions about the market? Ask me anytime.

* Image courtesy of Economists Outlook Blog.