It’s still a great time to buy a new home.

It’s still a great time to buy a new home.

August 3, 2022

Are you thinking about buying a new home, but all the negativity has you sitting on the fence? Look past the naysayers. They’re blinded by the past two years, when an unprecedented situation changed everything. We’re realigning our lives now. And it’s still a great time to buy a new home.

Yes, the interest rates have risen. They’re back to where they were before the pandemic sparked uncertainty. We lived through two years of uncertainty—when people were losing their jobs and getting basic needs, like groceries, presented a challenge. Suddenly, items like face masks, sanitizer, and toilet paper were valuable commodities.

Who would have ever predicted that global change?

We’re not there any more. We’re getting back to some sense of normalcy, where social distancing has ebbed, masks aren’t mandatory, schools are open, and the hospitals aren’t overwhelmed with COVID patients. Like many things, interest rates have returned to pre-COVID level.

Back to where we were

For prospective homebuyers, you’re in a good position. The current interest rates are good when you put them in perspective.

In 2018, a 30-year fixed rate loan had an average 4.7% and people bought homes, recognizing that this was a good value. In the early part of the 2000s, homebuyers saw rates hovering around 5% and 6%. And people continued to buy homes. Why is a comparable rate now a deterrent now? While you wait, the rates will go up. The price of a home will go up. The best time to buy a new home is right now.

Baker Residential is working with buyers to help them find and purchase the right home. We’ve continued to build new homes in Raleigh and the surrounding suburbs. We’re developing communities of single-family homes and townhomes, single-level and multi-story homes to fit different lifestyles, to give more options for homebuyers. 

We understand that people would prefer to have lower rates, but that’s not an option. You can’t look back with regret. Look ahead with the knowledge that your investment will grow. Your home purchase will improve your life. The decision to buy a new home right now is a big one, an important one, and you shouldn’t take it lightly. Don’t let a detour from the norm hold you back. You overcame the challenges presented for two years, rearranging so many elements in your life.  

Keep moving forward on your dream.

2020 and 2021 are in the rearview mirror. We’re not going back. But we can move forward with confidence and certainty that buying a new home is a good decision. You gain the many features that come with this choice: brand new construction that is fully warrantied, built with the most up-to-date technology, design trends, and materials. You don’t have the worries of paying for repairs, replacements, and fueling the lack of energy efficiency in an older home. 

If you want a new home, keep pursuing that dream. Baker Residential would like to help. If your search is for new homes for sale in the Raleigh area, we’d like to show you The Baker Difference. Our helpful sales agents are waiting to welcome you to visit the model homes and learn more about your options for homeownership. Just let us know how we can help!


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