Here are four great reasons to consider buying a home today instead of waiting.
Prices Will Continue to Rise
CoreLogic’s latest Home Price Index reports that home prices have appreciated by 6.6% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 4.3% 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.
Mortgage Interest Rates Are Projected to Increase
Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year mortgage hovered close to 4.0% in 2017. Most experts predict that 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 nearly a full percentage point by this time next year.
An increase in rates will impact YOUR monthly mortgage payment. Ayear from now, your housing expense will increase if a mortgage is necessary to buy your next home.
Either Way, You Are Paying a Mortgage
There are some renters who 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 a mortgage – either yours or your landlord’s.
As an owner, your mortgage payment is a form of ‘forced savings’ that 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?
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?
Look at 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, you want your family to be safer, or you just want to have control over renovations, maybe now is 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.
About Wenatchee, WA Real Estate - Melissa & Kent Kiser REMAX Landmark
We are full time Realtors for over 27 years, we have successfully represented buyers, sellers and investors in the sale and purchase of thousands of properties. We believe our success can be attributed to our honesty, dedication, commitment and level of service we provide to our clients. We skillfully learn what our client is seeking to accomplish, and research the necessary information to provide the best clear cut strategy to move forward. Constant communication and feedback are vitally important during the Real Estate process and we clearly and precisely guide our clients through every step of the way. Our Priorities Are Simple…They’re Yours! We are partnered with RE/MAX Real Estate the only National Real Estate firm with the #1 visited website in the country. We Love Selling Real Estate and our enthusiasm shines through!
You can search the entire North Central Washington MLS on our website at www.NCWhomes.com Please give us a call and see what 27 years of successful Real Estate experience can do for you. We would love to meet with you and show you our “First Class” marketing program. We will discuss your needs and create an individual plan to help you obtain your real estate goals. Great exposure produces amazing results!