Wednesday, November 6, 2019
4 Reasons to Buy a Home This Fall
Here are four great reasons to consider buying a home today, instead of waiting.
1. Prices Will Continue to Rise
CoreLogic’s latest Home Price Insights Report shows that home prices have appreciated by 3.6% over the last 12 months. The same report predicts prices will continue to increase at a rate of 5.8% over the next year.
The bottom in home prices has come and gone. Home values will continue to appreciate for years. Waiting no longer makes sense.
2. Mortgage Interest Rates Are Projected to Increase Next Year
The Primary Mortgage Market Survey from Freddie Mac indicates that interest rates for a 30-year mortgage have recently hovered just above 3.5%. This is great news for buyers in the market right now, because low interest rates increase your purchasing power – but don’t wait! Most experts predict rates will rise over the next 12 months. The Mortgage Bankers Association, Fannie Mae, Freddie Mac, and the National Association of Realtors are in unison, projecting that 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 needed to buy your next home.
3. Either Way, You Are Paying a Mortgage
There are some renters who haven’t purchased a home yet because they’re uncomfortable taking on the obligation of a mortgage. Everyone should realize that, unless you’re living rent-free with your parents, you are paying a mortgage – either yours or that of your landlord.
As an owner, your mortgage payment is a form of ‘forced savings’ that allows you to have equity in your home 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 costs 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 both are on the rise.
But what if they weren’t? Would you wait?
Look at the actual reason you’re buying and decide if it is worth waiting. Whether you want to have a great place for your children to grow up, you want your family to be safer, or you just want to have control over custom renovations, maybe now is the time to buy.
Bottom Line
Buying a home sooner rather than later could lead to substantial savings. Reach out to me to see if homeownership is the right choice for you and your family this fall.
Subscribe to:
Post Comments (Atom)
Popular Posts
-
If you’re faced with a clogged toilet and you don’t have a plunger or don’t want to use a plunger because it’s too disgusting try this tri...
-
A Joliet, Illinois mansion may be the deal of a lifetime -- or it may scare you to death. The Hiram Scutt Mansion is a national landm...
-
You're ready to take the leap and buy a home. If this is your first time, you may want to know what to do to make the process go more s...
-
Do you like to travel? Do you travel to Europe? If so, you need to read this article... Here’s what you need to know about the new E...
-
One of the best reasons to list your home with a real estate agent isn't just about getting more money for your home. While a real esta...
-
When you're selling your home, you need every advantage you can get. And there are few homes that are magically market ready without a ...
-
There is nothing quite like a floral display to add a touch of love and warmth to a room. Receiving a glorious bouquet of flowers defi...
-
In the Tampa Bay area, a 60,000-square-foot mansion in Hillsboro Beach has hit the market after seven years of construction. "...
-
A recent survey by the National Association of Realtors (NAR) found that Eighty-three percent of people view their home as a good financial...
-
With the housing market being a seller's market on steroids, due to lack of homes are the market, you need to be prepared to have to fig...
No comments:
Post a Comment