Is Now the Time to Buy an Anchorage Home?

With Anchorage home prices remaining relatively steady, inventory levels high and interest rates beginning to creep up (hovering just over the 5% mark), is now the time to buy an Anchorage home?  Many buyers have been trying to time their Anchorage real estate purchase at the "bottom of the market".  No one can predict where that is or when that will be.  Instead of looking at what the Anchorage real estate market WILL do, consider WHAT YOU WANT from homeownership.

I want to live in one area for a period of time.  Owning a home is still a sound investment, especially for those wanting to set down roots for more than a couple of years. 

I want to build up my credit.  While appreciation of property may have slowed down, it is still happening.  The longer you are in your Anchorage home, the more you pay down your mortgage.  Buying a property for a decent price in a good location will bring you equity.  Making steady payments will help raise your credit score as well as create a valuable asset.

I am tired of having to answer to a landlord.  Renting a home means that you cannot make any changes you want to your home without the landlord's approval.  By owning your own Anchorage home, you are free to paint and decorate however you wish.  And, if you decide to move out, you have the option of renting out your own property as a source of income.

Homeownership is a big decision that shouldn't be taken lightly.  For those who are constantly on the move and don't want to be bogged down in one place for too long, owning your own home may not be right for you.  However, if you're looking to settle down for a bit and want to make an investment in your future rather than simply paying a landlord, you may want to consider buying a home.  Contact your local Anchorage REALTOR today to see if now is the time for you to buy an Anchorage home.

Pauline Hofseth, your Anchorage real estate specialist