HUD Articles

                                                      Don’t avoid homeownership

It’s a good time to buy a house, even if the mortgage loan will cost you a little bit more.

There are some experts who fear a recession could happen in the next year or two that could cause housing values to stop rising or even dip. While no one wants to see their home values be stagnant or drop, if you’re a new homeowner, you’ll have less to worry about. Any correction in housing values will be temporary, and as long as you aren’t planning to move right away, you won’t feel any pinch when it comes to your house payment.

These days, the average first time homebuyer homeowner stays in place for 10 years before moving (according to the National Association of REALTORS®), so there’s plenty of time for the market to adjust and your home to gain value before you sell.