Bluman Properties Blog

Trend# 1: Home Prices Will Rise Slowly with fewer offers If you are keen on the house price in 2018 and 2019, you can bear me witness that home prices made a giant 10% jump. Wow! However, it may be a different story coming year. It's estimated that home prices will rise in 2020 but at a much slower pace while the number of homes for sale is expected to rise with only 2%. What is the reason ? One major contributor is overall economic uncertainty, and another part of the slowdown is due to the high fees titling process that hinders mortgage uptake. The combination is enough to discourage home-buyers who have a desire to purchase a home. However, the market still has eager buyers searching for newly built homes. The good news is, it is estimated that the number of newly constructed homes will increase by 8% in 2020. The bad news is, there will be fewer homes in some areas. Besides the construction companies lacks the manpower to keep up with the increasing demand.

Buying a home is everyone's dream 😄 . However, if you buy one when not ready, you can face major financial setbacks. For instance, if you overspend on it, you might become a house poorer because the mortgage payment may be too big for you. This might lead to falling short on your monthly bills or become a big failure if working toward your long-term financial goals. You must buy a home for the right reasons. Buy a house because you are ready and not because you feel like you need to have one at a certain time in your life. Read here 9 things to consider before buying a home Here are five reasons you should not buy a home and five reasons why buying a home might be a good move when faced with a tough decision whether to buy or rent. 1.        You Qualify For a Mortgage Even if you qualify to get a mortgage, that does not mean you are ready to buy a house. It is always a good idea to address the debt part or spending issue before purchasing a home. Set up a budget so you k