Now is the Time to Buy in Long Beach for First Time Home Buyers
It might sound crazy to suggest that now is a good time to buy a home anywhere in California, no less Long Beach. It is true! Multiple factors are leading to great opportunities for new home buyers to finally pay their own mortgage rather than someone else’s through rent.
This year has seen a shift toward buyers in California. The market features a higher inventory than it has lately and the fear of high prices has chased some of the buying competition away.
Interest rates are still low and this represents one of the best reasons to buy a home in Long Beach. Rates as recent as a year or so ago were high enough to eliminate many potential buyers from the market. Now, rate reduction has led to more reasonable mortgage payments meaning buyers can afford to move into the Long Beach area.
First time homebuyers can also take advantage of several programs offered by the state of California. The California Housing Finance Agency (CalHFA) provides many loan programs and down payment assistance.
Expand Your Options
One notable program offered in Long Beach by Long Beach Development Services (LBDS) is called the Home Improvement Rebate Program. This program offers a rebate for those who improve upon the exterior of the home.
The Home Improvement Rebate Program is mutually beneficial. Long Beach benefits by rewarding new home owners who improve the outward appearance of their home, thereby improving the general look of Long Beach.
In turn, home owners benefit by receiving a rebate for work they were likely to do anyway. Homes that you may have passed by because of their lack of curb appeal might now be on your radar knowing there is a rebate available for fixing it up.
As you can see, almost every arrow points toward home ownership. If you have been dreaming of buying in Long Beach, now is most certainly the time to do so. Take advantage of increased inventory, low mortgage rates, and assistance programs to make your dream a reality.