Here are four reasons to consider buying today instead of waiting.
1. Prices Will Continue to Rise
CoreLogic’slatestU.S. Home Price Insightsreports that home prices have appreciated by 3.7% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 4.8% over the next year.
Home values will continue to appreciate. Waiting may no longer makes sense.
2. Mortgage Interest Rates Are Projected to Increase
Freddie Mac’sPrimary Mortgage Market Surveyshows that interest rates for a 30-year fixed rate mortgage have started to level off around 4.3%. Most experts predict that rates will rise over the next 12 months. TheMortgage Bankers Association, Fannie Mae, Freddie Mac, and the National Association of Realtorsare in unison, projecting rates will increase by this time next year.
An increase in rates will impact YOUR monthly mortgage payment. A year from now, your housing expense will increase if a mortgage is necessary to buy your next home.
3. Either Way, You Are Paying a Mortgage
Some renters have not yet purchased a home because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that unless you are living with your parents rent-free, you are paying amortgage– either yours or your landlord’s.
As an owner, your mortgage payment is a form of‘forced savings’which allows you to have equity in your home that you can tap into later in life. As a renter, you guarantee your landlord is the person with that equity.
Are you ready to put your housing cost to work for you?
4. It’s Time to Move On with Your Life
The ‘cost’ of a home is determined by two major components: the price of the home and the current mortgage rate. It appears that both are on the rise.
But what if they weren’t? Would you wait?
Examine the actual reason you are buying and decide if it is worth waiting. Whether you want to have a great place for your children to grow up, greater safety for your family, or you just want to have control over renovations, now could be the time to buy.
If the right thing for you and your family is to purchase a home this year, buying sooner rather than later could lead to substantial savings.
Author:Josh Zehnder Phone: 937-219-4870 Dated: June 4th 2019 Views: 1,139 About Josh: My commitment is to the Greater Dayton & Cincinnati areas. I have over 15 years of experience in the...
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My commitment is to the Greater Dayton & Cincinnati areas. I have over 15 years of experience in the local real estate market, along with an extensive construction background. I pride myself in the fact that my clients always walk away happy, and that they refer their family and friends to me. I have a great team of lenders, inspectors, insurance agents, and title companies that along with myself will go out of their way to make sure you have the best experience possible. Give me a call and lets get the process started!!
No matter how many people I meet in this business, I continue to take pleasure in getting to know every one of my clients as I assist them in navigating them down their real estate path. With me, you wil l never experience the feeling that I do not care. You can reach me, I do return my calls, I will not pass you off to someone else, I care about you and your transaction. I make each real estate transaction memorable so that my clients will refer me to others - that is how I build a real estate business. I need your help and customer satisfaction is the best way forward.