The benefits of buying a home early vs late can be significant. Here are a few key reasons to consider buying property before the market reaches its peak:
1) You'll likely receive a better deal
A recent study by Zillow found that buyers who buy property in Israel typically receive around 5% more than buyers who do not purchase here. This is because there are more motivated sellers and fewer desirable properties available.
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2) You'll avoid bidding wars
When the market reaches its peak, there often becomes a race to buy the best properties. This can lead to bidding wars and high prices, both of which you'll want to avoid if possible. By purchasing a home early, you'll have more control over the price and may be able to negotiate a better deal.
3) You'll get your home sooner
The average homebuyer in America wants to wait until their salary increases enough to cover their monthly mortgage payments, but this isn't always possible or desirable. Buying a home early allows you to get your dream home much sooner – possibly even before you hit your 30s!
The fact that owning a piece of property has a lot of advantages is nothing new. Whether you are single or have a family to care for, owning a piece of land can have a lot of advantages versus renting a home.