In the spring, many excited buyers get ready to enter the housing market. Others continue dreaming about the homes they’d like to buy.
Here’s a dive into three often-overlooked financial benefits of homeownership and how preparing for them now can steer you in the direction of greater stability, savings, and predictability.
Regardless of the lack of inventory on the market, the U.S. homeownership rate has climbed to a 6-year high.
When the number of buyers in the housing market outnumbers the number of homes for sale, it’s called a “seller’s market.” The advantage tips toward the seller as low inventory heats up the competition among those searching for a place to call their own. This can create multiple offer scenarios and bidding wars, making it tough for buyers to land their dream homes – unless they stand out from the crowd.