Why You Should Buy Your Retirement Home Now
The coronavirus pandemic has meant many of us have to adjust to a new normal and put various plans for the year on hold. Perhaps you’ve had to cancel vacations or you’ve put a hold on planning your retirement and looking for your dream retirement home because you’re unsure if it’s a smart time to buy.
Whether it’s the right time to buy depends on a number of factors, including your overall financial situation, but if you were already preparing to purchase a home in the near future, here’s why you’ll want to consider pulling the trigger right now.
1. Low mortgage rates
The past few months have seen mortgage rates plummet to historical lows as the government makes efforts to protect the economy against damages from COVID-19. If you’ve been waiting to get a good rate, now is a great time to lock it in. It’s tempting to keep an eye on rates in hopes that they will drop even further, but because mortgage rates are unpredictable, it’s possible they’ll rise instead. Without a rate lock, you won’t be protected from increases.
2. Increased purchasing power
Because mortgage rates are falling, homebuying power is up and buyers can afford more house than they might have been able to previously. With more affordable mortgages, both in terms of monthly payments and with the total loan amount, you may be able to get more bang for your buck when it comes to your ideal retirement home.
Learn more about how interest rates affect your home buying power.
3. More buying incentives
If the savings from low mortgage rates and increased buying power aren’t enough, those in the home buying and building industry are also offering additional incentives to buyers who purchase a home soon.
Del Webb communities across the country are holding special sales events where, for a limited time, buyers can save potentially tens of thousands of dollars on the price of their new retirement home. Del Webb also recently introduced a Hometown Heroes program, which offers a discount to heroes in our communities, such as firefighters, doctors and nurses, and teachers. To learn more about these incentives or to see if you qualify, visit the community page or contact a sales consultant.
With more ways to buy than ever, you can choose the shopping experience that’s most comfortable for you. Our sales centers and model homes are open so you can schedule an appointment with a sales consultant to discuss your options and select your dream home, or you can complete your buying journey online! The virtual home buying process includes features like 3D tours, interactive floor plans, and maps to view homesites, making it easy to select your dream home from the comfort of your sofa.
If you’re ready to start your home buying journey, visit a Del Webb community page or contact a sales consultant.
Contributed to The 55+ Society
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