As REALTORS®, Ben and I hear this question…a lot. (See also: Is Now A Good Time To Sell My Home?

You may be seeing a lot of posts on Facebook or getting ads in your mailbox proclaiming: “LOOK AT THOSE INTEREST RATES! NOW IS THE TIME TO BUY A HOME!”  


Despite what some real estate agents may tell you, there is no one, right answer to this question.

This isn’t a question for anyone to answer for you.

The answer won’t come from a mortgage lender; they’ll just tell you if you can qualify.

The answer won’t come from your financial planner; they’ll just tell you if you have the downpayment.

The answer won’t come from an economist — macro or micro; they’ll just tell you what the trends predict and try to hypothesize about the future.

The answer won’t come from your REALTOR®; we can tell you the market statistics and what they might mean for you.

The real question is this: do you feel ready to buy a home?

Here are some additional things to think about that might help you come up with the answer.

  • How long do you plan to live in the home? If you think you would stay in the home for two years or more, it’s probably a good time to buy! 
  • Do you like cheap money? It’s no cliché to say that interest rates are at historic lows! If you have a qualifying credit score and meet other qualification criteria (may differ by lender), it has never been more affordable to borrow money to buy a home — the interest rates really are that good. We can help you find a local lender to speak to to get more information. If “cheap money” is attractive to you, it’s probably a good time to think about buying!
  • Do you work from home? In the Metro Atlanta area, rents often far outpace the cost to own, when you compare monthly rent versus mortgage rates. If you work from home and need a little more space — and space that you can truly make your own, that can be your “Home Safe Home” — it’s probably a good time to buy.
  • Would you consider being a landlord, if you had to? If you end up having to move sooner than you plan to OR you just like the idea of owning investment property and building your portfolio, then it’s probably a good time to buy!

Notice that I didn’t answer any of those questions with, “It’s definitely” a good time to buy.”

Again, no one can make that final decision but you. However, one of my favorite parts of this life of mine in real estate is being a sounding board, a consultant, a trusted resource to all of our clients. We love the opportunity to meet with potential clients, and we love it when they are ready to buy a home. However, I also enjoy the trust and the bond that we can establish when the best counsel for that potential client is, “Maybe now is not the optimal time for you to buy.”

It’s not the right time for everyone to buy, but for many of you, the time may be ripe! Give us a call today at 404-994-2181 or email Maura(at)BuySellLiveAtlanta(dot)com!

This content is not the product of the National Association of REALTORS®, and may not reflect NAR's viewpoint or position on these topics and NAR does not verify the accuracy of the content.