Now is a Great Time to Buy a Home
The housing market is red-hot right now, but you should not allow this competition to discourage your hopes of finding your dream home. Below, we’ve listed several reasons why right now is a great time to buy a home.
Competitive Mortgage Rates
A major reason why right now is a great time to buy a home is that you can find very competitive and low mortgage interest rates. San Francisco Credit Union offers home loans with as low as 2.785% APR. They also offer home equity lines as low as 4.00% APR, or personal loans as low as 1.99% APR, that can be used to fund various home renovation projects.
5 Innovative Design Trends to Look For
2021 has increased the popularity of many innovative home renovation and design trends. You might find some of these in the homes that you consider, and they are also great options for customizing your future home to fit your family’s needs.
1. Custom Interior Door Styles
Many homes no longer come with standard interior doors. There are many popular and desirable trends and interior doors styles right now:
- Sliding barn doors that complement rustic or industrial home decor styles
- Classic french double doors
- Glass-paned doors to promote an open concept and improve safety for families with small children.
- Doors with built-in mirrors or chalkboards
- Solid wooden doors to assist in soundproofing certain spaces
Doors can now be customized to fit the needs and design preferences of your family.
2. Dutch Lap Vinyl Siding
Dutch lap vinyl siding is a beautiful siding option for your home that is especially popular among colonial-style homes along the east coast. Dutch lap vinyl siding mimics the look of real wood siding but is designed to be more durable, moisture-resistant, and long-lasting compared to real wooden siding. Homes with vinyl siding may be more desirable during your home buying process due to these benefits.
3. Sleek Pool Drainage System
If you’re considering purchasing a home with a pool, it is important to inspect the drainage system. An outdated drainage system will require a lot of maintenance and upkeep, and may even require replacement within a few years.
There are many beneficial pool deck drainage updates and options, including slim drainage that does not require a heavy great cover, built-in sloping to assist with deck drainage, and sleek designs that will complement the rest of your pool and backyard aesthetic. If you find a home with an updated pool drainage system, this is a huge plus. However, if you aren’t ready to take on the cost of replacing a pool deck drain, this may be an important deciding factor when choosing a home.
4. ADA Compliant Grab Bars
It is important to ensure that your home has adequate safety measures, especially if any of your family members are disabled or elderly. Grab bars and handrails are useful in locations with higher fall risk, including the bathroom, in showers and tubs, and near doorways and stairs.
Installing ADA-compliant grab bars is a great way to improve the comfort and safety of your home, and finding a home for sale with this feature could be a major benefit for your family.
5. Vinyl Plank Flooring
If you don’t have time to maintain real hardwood floors, this can be a major consideration in your home buying process. Hardwood floors require regular maintenance including polish and wax to restore shine and reduce the look of scratches and dents.
A home with vinyl plank flooring may be desirable for its low maintenance, and easy cleaning. This type of flooring is very durable, making it pet and child-friendly. It can also mimic the look of many different colors and styles of wood at a more affordable cost.
This could also be a great home renovation option for moving into your new home, as it can easily be installed in a few days without the help of professionals.
Important Considerations Before Buying A Home
Do You Have Emergency Savings?
Anytime you are considering a major purchase, especially in today’s competitive housing market, it is a good idea to ensure that you have adequate savings in case of an emergency. This will allow you to provide for your family while keeping up with mortgage payments and other bills if something goes wrong or you lose your job.
A good rule of thumb is to set aside 3-6 months of living expenses in a savings account.
Do You Have Good Credit?
To take advantage of competitive mortgage rates, it is very important to have a good credit score. Be sure to do everything you can to improve your credit, and be aware of your score when applying for a mortgage loan.
Right now can be the ideal time to buy a home if you are adequately prepared for the realities of the competitive market. San Francisco Federal Credit Union is an expert in mortgage lending and home buying and can help you along your home buying process. To learn more about their competitive home loan options, and how they can help you achieve your dream home in today’s real estate market, call them at 800-852-7598, ext. 2977.
Matt Lee is the owner of the Innovative Building Materials blog and a content writer for the building materials industry. He is focused on helping fellow homeowners, contractors, and architects discover materials and methods of construction that save money, improve energy efficiency, and increase property value.