The most frequent question I am asked in a week, or even a day, from buyers is, “Is this a good time to buy real estate in Hawaii?”
Statistically speaking, this is the best time to buy in over 20 years with interest rates under 5% (under 4% depending on the terms of your loan); prices are lower than they have been in nearly a decade and the market is slower now than it will be in the winter…but the real question is really whether or not itÂ is a good time for you to buy!
Each person has their own reasons for buying a home or property, most of them are timed on personal factors. If you are basing your decision strictly on price as to when to buy a property, you must be an investor and I know you are shopping.
Whether you hit the lottery, your kids finally graduated from college, or if you are a “boomer” like me and are looking to buy that dream retirementÂ or second home, this just may be that perfect storm where the price of the property can actually fit into your budget. If you are Canadian…well, go ahead and smile.Â The dollar parity is better than it has been in decades and I would be taking advantage of this opportunity too!
You are not alone, whoever you are,Â if you are trying to buy one of the remaining “bargain” buys in the Kona/Kohala Coast resorts today.Â The key to a successful purchase or investment is to learn the market, make your selection based on your own personal criteria, and jump in. You can’t enjoy the water unless you make the jump.
Aloha from a pretty good swimmer…