Now is the time to buy, according to a household name in finance: Dave Ramsey.
Dave Ramsey
Love him or hate him, Dave Ramsey is a prominent voice in finance. His tough-minded approach and conservative philosophy may ruffle some feathers. However, his success in the industry is evident as an eight-time national bestselling author and personal finance expert.
Florida Realtors reports that Dave Ramsey has given an endorsement that now is the time to buy a home. Support of this kind comes with several caveats. Dave Ramsey’s prerequisites to buying a home include: 1) No consumer debt 2) Emergency fund savings of 6 months’ expenses 3) Ability to make 5-20% down payment 4) Keep mortgage payments to no more than 25% take home pay.
With those steps as a foundation, Dave Ramsey signs off that now is the time to buy.
This is based on a few conditions in our current market.
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- Interest Rates. It is unlikely that interest rates will fall this year. Movement Mortgage confirms that rates will be held higher for longer, however, no further rate hikes are on the horizon either.
- House Price. When interest rates are cut, house prices will increase in turn.
- Refinancing. The possibility of refinancing your mortgage is always on the table. As the saying goes, Date the rate. Marry the house.
“Sometimes the certainty of now is easier to plan for than the uncertainty of the future.”
Summer
Furthermore, now is the time to buy because we are headed into summertime. In Jacksonville Beach, we have the luxury of warm and sunny trips to the beach almost year round. Therefore, the only big change in summertime here is… school is out.
Without a doubt, summer break is prime time for families to move with minimal disruption for children. Particularly if moving to a new school district, the change of schools will come most naturally at the start of the school year. Even if staying in the same school district, there is more time to get settled in the new home before the hustling pace of school, sports and holidays arrive in the fall.
Fluid Realty
The Fluid Realty Team is Jacksonville’s top real estate group and local boutique brokerage. We provide a full-service experience with the best realtors in the area. Our expertise includes luxury beach real estate within the four Beaches of Jacksonville, FL: Atlantic Beach, Neptune Beach, Jacksonville Beach, and Ponte Vedra Beach.
