Bee | High IQ Buying: Is 2023 a good year to buy a home?

January 4, 2023

Bee | High IQ Buying: Is 2023 a good year to buy a home?
The answer is YES! 2023 will be a great year to buy a home!

Despite inflation, higher interest rates and an upcoming recession, 2023 is a great year to buy a home if you've found the home of your dreams and can afford the mortgage payment. You don't buy a home based on where the economy or interest rates are. You buy a home when you can afford it and have found one you love. 

If rates are high when you buy, refinance into a lower rates when they drop which will lower your monthly payment, or, pay the home off faster with a lower rate. 
Millions of home buyers buy no matter where rates are when they’re ready to buy. They simply can afford the monthly payment and know that the market cycles, and when it does and rates drop again, they refinance. Granted, nobody wants to buy a home when rates are high; but your parents and grandparents bought homes when rates were as high as 18% so be thankful that you’re not having to pay those high rates. 

  • If a recession hits, remember, if you weren't a homeowner you'd be renting so you're either paying rent or a mortgage no matter what. 
    If you’re a first-time buyer, you’ve been renting for some period of time. Through the good economic times and the bad, you’ve paid your rent. A mortgage is same way, something you pay every month. The only difference is that you’re not building the landlord’s equity by renting, you’re building your own equity by owning. Starting with the right mortgage payment will ensure you don’t overcommit yourself to something that is too hard on your budget if a recession hits. 
  • If inflation is a concern, be sure to properly budget before you start shopping for homes that way you know what price range to be looking in. 
    There’s not much anyone can do about the prices of goods and services, or inflation. Even the money in your checking and savings account loses it’s value over time. That’s the economy we live in, and despite it’s obvious flaws, it’s created wealth and a society that’s still the envy of the world. The best idea is to work with a good real estate agent and mortgage loan officer who will customize a mortgage solution that fits you best.
At Bee we understand there's a lot of concern about the upcoming year, so when you buy with Bee you can refi for free. 

There's a lot of gimmicks and offers from other lenders right now offering temporary rate buy-downs and specials where the mortgage payment is lower for the first year or so. Don’t be fooled. Lenders don’t give away anything for free. But at Bee we do! When you buy with Bee in 2023 we will refinance you for free when rates drop. 

And by free we mean you won’t pay us any out-of-pocket broker commission for brokering your loan when you close.

We understand rates are the top concern of home buyers right now and want to ensure their peace of mind when they buy with us. We’ll track mortgage rates for you and when they drop enough to get a good savings by refinancing, we’ll let you know. 

Keep in mind, that doesn’t mean you won’t pay normal closing costs. We can’t do anything about those pesky third-party fees. However, you can easily roll them into your new loan so that you’re not paying any money out of pocket from start to finish–the cost of the appraisal and all other closing costs can be rolled into the new loan. Plus, you’ll be able to close remotely, from the comfort of your home or somewhere else if you like.

Fill out the form below to contact us or call us at 904-316-5566 .

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