Buying a home is one of the major decisions that every person has to make in their life. There are all sorts of factors to consider that it requires going back and forth the fence before coming up with a decision. Well, looks like it's about time you get past that fence and take the plunge this 2016.

Mortgage rates have been steadily dancing around record lows for quite some time now. And although it is highly possible that they start coming back up, it's still a pretty good time out there to get a good deal on a house.

CNN Money has listed four reasons why next year is a good time to buy:

Home prices will finally calm down

While real estate values have been constantly on the rise last year, 2016 is likely to be calmer. Svenja Gudell of Zillow forecasts a 3.5% increase on prices.

Those who have postponed their plans because of rising prices can finally jump in the market and Jonathan Smoke of Realtor.com predicts a surge of buyers.

"We have the potential for about six million home sales just through the months of April through September; that is basically impossible to do," he said.

However, this may not be good news for everyone, as wage growth remains in a slowdown leaving those with low-income still unable to purchase a home.

More homes will hit the market

Owners may also find the price slowdown as a signal to put their homes on the market, according to Smoke, which will provide more choices for buyers.

"Because of the price appreciation they have experienced, you will have more sellers put homes on the market next year," he said.

This 2016, builders are expected to prioritize starter and middle-range homes boosting the inventory, minimizing bidding wars, and easing prices.

Dirt cheap mortgages could disappear

It could be the end of record low mortgage rates - at least for now - with the Federal Reserve expected to bring interest rates up again soon.

Though the increase would be gradual, the higher rates would also bring borrowing costs and monthly mortgage payments higher.

"You are likely to get the best rate you will possibly see, perhaps in your lifetimes through the majority of next year, but certainly, the earlier the better," said Smoke.

Rents will still hurt

Renting wouldn't be the best option this 2016 as costs continue to climb, leaving buying as still the cheapest option in most cities.

In order to bring the cost of buying to equal the cost of renting, interest rates would have to be raised to 6.5%, says Ralph McLaughlin of Trulia.