Is Spring 2023 still a good time to buy a home?

Dated: February 17 2023

Views: 159

Predictions for 2023 can lead to uncertainty in the minds of many buyers. However can we all agree that everything is cyclical. Here is some general information that may help buyers make a decision.

The decision of whether to buy a home depends on a variety of factors, including your personal financial situation, the state of the housing market in your area, and current interest rates. It's important to do your own research and consider all of these factors before making a decision.

Currently, in Connecticut the housing market in many areas is experiencing high demand, which is still driving up home prices or keeping them high. Additionally, with interest rates hovering around 6%, it is an attractive time to buy. Whether you can afford a home purchase and the ongoing costs of homeownership, such as property taxes, insurance, and maintenance is all relative to the price range in which yyou are looking. Although one probably couldn't afford the same home as someone could when interest rates were under 3%, the pride of home ownership is still a reality. Many first time homebuyer loans are currently available with reduced interest rates or down payment assistance.

Before making a decision, you may want to consult with a financial advisor or a trusted real estate agent who can provide you with more information on the current state of the housing market and help you assess your financial situation.

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Stephen Briotti

PROFESSIONAL As head of WEICHERT Realtors-Briotti Group, with over 35 agents and two local offices, one at 246 Wolcott Road Wolcott, CT and one at 750 Watertown Avenue, Waterbury, CT, Steve invites bo....

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