Should I Buy a Home Now? Or Wait Until Next Year?

Cost of Waiting

It’s the  American dream!

Owning a home has always been a necessary part of adulthood. Even millennials agree that owning a home is a superior option to renting. Is there proper timing when it comes to deciding when to purchase your investment? Does time determine the value of your future property?

Do you have mixed feelings about buying your home now? Some people feel that it’s sensible to wait, to see if the interest rates will go down. Buying a home is a huge and serious decision we all have to make, it is just proper to be fully educated before you dive in.

Cost of Waiting

Some Highlights:

  • The Cost of Waiting to Buy is defined as the additional funds it would take to buy a home if prices and interest rates were to increase over a period of time.

These are the times when the strongest housing growth in history is happening. If you are buying your home now, you’re making a wise decision that will likely benefit you in the future.

  • Freddie Mac predicts interest rates to rise to 4.4% by next year.

If you buy your home now, you will be paying fewer taxes. Real estate taxes are considered as deductible, substantially benefiting the homeowner. Owning your own home costs less than renting a home. Take advantage of the moment when interest rates are low. House loans also mean they are affordable.

  • CoreLogic predicts home prices to appreciate by 5.0% over the next 12 months.

As this forecast shows us, buyers need to purchase their house sooner rather than later if you want to get a higher return on your investment. It’s evident that the increase on US home price is not that substantial and it continues to slow down, these prices are still expected to rise in the majority of the cities nationwide.

Also, the cost of a mortgage is also expected to rise in the coming year. It’s been recorded at the beginning of the year that a 30-year fixed mortgage was at 4.2%. In June, the rate went down to 3.7%. This is an indication that now might be the ideal time to buy your home before the mortgage rates increase again. Just look at the infographic based

There are a lot of great homes for sale in Charlotte, North Carolina to choose from.

You may contact me, Nancy Braun, at 704-997-3794 to learn more about the better built and the affordable and available homes for sale. Be a proud homeowner soon!

Why should you buy your home now?

  • You can have the peace of mind that you  finally own a home
  • It forces you to save by allocating a portion of your payment each month to the principal of the loan. It’s as good as paying yourself by building equity
  • You can finally have as many pets as you want without worrying about landlords
  • Again, mortgage rates are still low
  • Inventory is shrinking
  • Home prices are increasing, inevitably
  • Job markets are strengthening

Let me help you make a wise and sure decision!

All the facts sourced by CoreLogic, Freddie Mac, Bankrate need to be weighed many times to know if now is the right time to buy your home. Involve everyone in your family, ask from wise friends, and remember to not use too many emotions as they make greatly affect your choices in the end. Good luck!

Cost of WaitingCost of Waiting

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