Is It A Good Time To Buy A House In Naperville?

naperville home buyerIf you’re looking to buy a house in Naperville, you’re probably wondering if it’s a good time or not.  Maybe you’re scared about losing your shirt like people did over the last few years?  Maybe you’re wondering if prices are still on the way down?  Maybe you’re wondering if you should rent instead?

Well, here are a few thoughts that may help you decide what’s best for your personal situation.

1.  Understand Why You’re Buying

If you’re buying a house in Naperville, the #1 thing you should consider is why you actually want to buy.  Is it for the schools?  The location?  A safe place to raise your kids?  Or maybe something else?

These non-financial factors are what are going to make you happy or not.  It’s theses things that are ultimately responsible for if you like where you live and are able to call it a “home” and not just a “house.”

Ask yourself what the benefits are that you and your family will have by living in Naperville?

If you can’t think of any good benefits as to why living here is important, then maybe another place might be better.

reasons people buy a naperville home

Moving on, let’s assume that you have some great reasons in mind.  So, you still want to know: is it a good time to buy or not?

2.  Do Experts Think It’s A Good Time To Buy A Home?

For starters, one of the world’s best investors thinks so.  Warren Buffet is betting big on the housing recovery by buying real estate brokerages left and right.  That’s definitely a sign that at least he thinks that things are on the way back up.

3.  Does It Make Financial Sense?

Of course, neither of the above two issues matter if it just doesn’t make any financial sense.  So, can you really afford to buy a house in Naperville without risk of you losing money?

Across the country, most markets are seeing an increase in prices.  For those that aren’t, prices have at least stopped going down for the most part.  This is good news because it should give you confidence that you’re not likely to lose money by declining Naperville home values.  The spring thaw in the housing market is here and should continue for the foreseeable future.

4.  Are You Ready And Able To Buy?

If everything above makes sense for your situation, the last thing to really consider is: are you able to buy?

That basically means that you still need the financial backing to have the ability to purchase.  Do you have enough of a down payment?  Can you get funding from a bank?  Are you bringing pre-qualification and/or pre-approval letters to your realtor so he/she can have more power in negotiations?

It Is A Good Time To Buy A House In Naperville.

For many people, it makes a lot of sense to buy right now.  Perhaps it’s a good time for you, too.  If you’d like to have some help in finding that perfect Naperville dream home, we can help you.  Just contact us and we’ll set you up with new tools and information you’ll really want to have.

 

About John Reh

I moved to Naperville in 1981 and I love this city. As a Naperville-focused real estate agent, I publish this website to promote our community and help current and soon-to-be residents discover the best of Naperville homes and lifestyle. Contact me at any time.

Comments

  1. Dan Jungclas says:

    YOU BET IT IS A GREAT TIME TO BUY! Low interest rates.. Awesome prices and Naperville? What cold be better? There simply isn’t anything!

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