It is no secret that inflation is causing the cost of everything to rise. The housing market is seeing higher numbers as the Fed, or Federal Reserve System, attempts to soothe the burn of rising rates.
Dallas-Fort Worth is currently growing in and around major cities. Smaller communities are popping up as residents have come for the opportunity to live in luxury homes in the quiet, quaint communities in the countryside of the big city. Argyle, Flower Mound, and Lantana are three communities that offer the best of luxury living with lovely countryside landscapes and scenery. Here, lenders are getting really creative in order to overcome high interest rate issues. Some are offering a free refinance once rates come down. Others are offering lower interest rates for the first 2 years of the loan.
It is essential to weigh the total amount of your investment with current and future market value in mind. Waiting to purchase could cost in the long run. Let’s explore why now is the right time to buy Flower Mound, Argyle, or Lantana real estate and where to look to purchase in this region.
Search with a Realtor
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The market can change at the drop of a hat, and finding a trusted realtor
to help you navigate your search is one of the things that can help streamline the process of finding the right home. Your real estate agent is there to listen to your desires and steer you toward accomplishing your goals. They know your price point and have the connections to look into the market with a fine-toothed comb to determine which homes meet your needs and match your purchase guidelines. Working with a local realtor you can trust is vital in sifting through luxury homes for sale in Flower Mound, TX
. A trusted local realtor will help you navigate each luxury community and keep you rocking and rolling through your search.
Fluctuating mortgage rates
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For every 1% interest rate increase, a buyer’s purchasing power is lowered by 10%. For example, a buyer with pre-approval for $500,000 at 5% interest can experience a shift to $450,000 with a 6% rate. With rising interest rates, remaining flexible in finding your home is crucial while looking for the right home in this time of uncertainty.
With the instability of the current market, locking in the current interest rate and refinancing in the future is an option to consider rather than waiting out the flux. The chance to refinance is always an opportunity to get back into your comfort zone down the line. Lenders also offer the option to buy mortgage points, which is another strategy to consider.
When considering investing in real estate, it’s crucial to strategize and focus on highly sought-after locations where the area's appeal can justify the cost of an increasing market. Attributes like weather patterns, quality school districts, local attractions, and proximity to fun events contribute to the desirability of a locale. Denton County is thriving with newly developed neighborhoods giving rural living a vibrance like no other. Luxury amenities, grade-A golf courses, award-winning country clubs, and an equestrian-friendly lifestyle add to this county's attraction in the Texas housing market.
Invest in long-term goals
Depending on the intention of your purchase and property goals, your realtor can help determine how to leverage this investment opportunity to build your portfolio or gain passive income. Earning income from your investment is a great way to look past the rising interest rates and focus on future investment returns. After all, waiting to purchase could cost if interest rates continue to rise.
Purchase to lease
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Having a second home with long-term leasing options is an excellent way to invest and receive benefits from your property. The passive income and tax credits for managing your property alone make this option worth considering when purchasing a luxury home in the area.
Buy to sell
One way to turn your new home into an optimal return on investment is to purchase in the desired area and sell once the house has reached the optimum level of appreciation. Living near the lake or on a spacious lot with mature trees and lush landscaping in the calm of the country is one way to guarantee your home will grow in revenue over time.
Keep for retirement
Suppose you have found your dream home in the dream location for retirement but still have some time until you are ready to slow down. New home communities in Argyle, TX, are prime places for retirement, with chic southern living just outside the metropolitan region. While you hold onto your home until the transition into retirement, your property can serve as a vacation or second home with tenants to occupy your space while you complete your time in the workplace.
Build your dream home
Lantana is famous for its top-notch location and luxury. These quality homes just south of Denton land any resident in one of the most upscale and meticulously planned communities in the Dallas-Fort Worth region. Homes in this area instantly gain appreciation due to highly-rated schools, resort-style living, and rural feel. Homes in this space come with exceptional acreage and landscapes, which is a surefire way to add to your return on investment substantially. Purchasing your home with land to live on is something to consider as you assess affordability in this region.
Affluent communities outside of Dallas-Fort Worth have met the current interest rate hike with the added incentive of an active lifestyle, space to roam, abundant landscapes, and living by the lakes.
Our team at Berry Boyd Group is well-versed in the area. We are ready to assist as you continue to search for your perfect new home on the Argyle, Flower Mound, or Lantana real estate scene. Our team
of knowledgeable ladies has first-hand knowledge of these North Texas communities and would love to help you look for your new piece of paradise. Contact our team at Berry Boyd Group
to get started today.*Header photo courtesy of Pexels