If you’re considering buying a home in 2024 somewhere in the Port St. Lucie area, you’re in luck! The housing market in the area is offering some smart opportunities for buyers, making it a great time to secure your dream home. Here’s what you need to know to make the most of the market this year:
1. More Inventory, More Choices
With an increase in housing inventory, you have more options than ever before. As of this month’s statistics, Port St. Lucie has almost 2,000 active for sale homes on the market. That is almost a 40% increase from this time in 2023. This allows you to explore a wider range of homes and find the perfect match for your needs and lifestyle. More inventory also means sellers may be more flexible with pricing and terms, giving you greater negotiating power.
2. Rate Buy Downs for Lower Monthly Payments
One smart strategy for saving money on your mortgage is a rate buy down. By paying an upfront cost, you can lower your interest rate and enjoy more affordable monthly payments. This option can save you money over the life of the loan, making it a worthwhile consideration for many buyers. Since inventory is higher, home’s are also staying on the market longer. As homes stay on the market, seller’s typically are more willing to negotiate.
3. New Construction Incentives
If you’re interested in a brand-new home, many construction builders are offering substantial discounts and incentives in 2024. These include tens of thousands of dollars off the price, appliance packages, closing cost assistance, and even free upgrades. This can add significant value to your purchase and help you get more for your money. In Port St. Lucie, we are currently seeing discounts anywhere from $10,000-$80,000 off the price of homes. One of my buyer’s last month, closed a property directly from a builder, with all closing costs paid, and $80,000 of the price. That is over $100,000 of savings.
4. Stay Ahead of the Market
We keep an eye on changing market trends and mortgage rates, and relay that information to you on our newsletter. Staying informed will help you act quickly to secure the best financing options and make the most of current conditions. Knowing what’s happening in the market can also help you time your purchase for maximum advantage.
5. Work with an Expert
Partnering with a trusted real estate agent, like me, and mortgage professionals, who I partner with, is essential to navigating the buying process smoothly. As an expert, we can guide you every step of the way, helping you make informed decisions and avoid potential pitfalls. We can also provide valuable insights into the market in Port St. Lucie and surrounding areas.
Buying a home in 2024 can be an exciting and rewarding experience when you take advantage of the opportunities the market offers. By leveraging the benefits of increased inventory, rate buy downs, and new construction incentives, you can make your dream of homeownership a reality. Don’t forget to work with us to ensure a successful and satisfying home buying journey!
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