We are all feeling the pinch of inflation, high interest rates, and rising costs. So you may be wondering if now is a good time to look for homes for sale in Hanover, PA. Whether you are looking for more square footage, want to downsize, or are ready to stop renting, it can feel like timing is everything when it comes to home buying. Let’s discuss whether it’s worth it to wait or if now is the right time to buy.

Should You Wait to Buy a House?

High home prices and high interest rates can make waiting to buy a home seem like the smart move.  But is it smart to wait to look for homes for sale in Hanover PA?  While no one knows what the housing market will do, we do know that home prices tend to appreciate over time.  Waiting could mean paying more for the same property later and also needing to have a larger down payment.

Interest rates can be unpredictable.  While they’re high now, there’s no guarantee they’ll decrease in the coming months or years.  However, if they do, refinancing is always an option.  Buying now allows you to lock in a price that is likely lower than it will be in the future.

Should You Look at Homes for Sale in Hanover PA Now?

If you’re financially prepared, now is a good time to buy.  Locking in a fixed-rate mortgage can provide stability and protect you from potential price increases.  You’re also able to start building equity now, which can benefit you financially down the road.

Love a pro and con list?  So Do We:

Pros:

  • Appreciation: Home values generally increase over time.
  • Lock in a Price: Avoid paying more for the same home later.
  • Refinancing Option: You can refinance for a lower rate later if rates drop.
  • Build Equity: Start building equity sooner rather than later.

Cons:

  • Higher Prices: Home values could continue to rise.
  • Unpredictable Interest Rates: Interest rates could stay the same or increase.
  • Lost Equity: Miss out on the opportunity to build equity while continuing to rent.

Burkentine Builders Homes for Sale in Hanover, PA

Ultimately, the decision to buy now or wait is a personal one and is dependent on a variety of factors.  If you’re ready to explore options for homes for sale in Hanover, PA, the team at Burkentine Builders is here to help.  We have several single-family home and townhome communities that we’d love to introduce you to so you can start your journey to home ownership.  Let us help you buy with confidence!

Since 1989, Burkentine Builders, Inc. has been dedicated to crafting exceptional homes that enrich lives. With a focus on quality, craftsmanship, and customer satisfaction, we build single-family homes and townhomes in Connecticut, Pennsylvania, Maryland, North Carolina, South Carolina, and Tennessee. Our commitment to Live Different extends beyond building homes. We prioritize our employees’ well-being and create a culture that fosters growth and development. By delivering exceptional service and creating spaces that inspire happiness, we strive to make a positive impact on the lives of our customers.  Visit our website to learn more!