All Summer you have thought about buying a home, maybe even looked at a few but never took the leap. Now it is Fall and you think: I will just wait till spring or next summer. We are here to give you some reasons now is the perfect time for you to buy!
Home Prices Continue to Appreciate
Over the last year, Home Price Index reported that home prices appreciated by 6.7% and that report predicts that prices will continue to increase over the next year at a rate of 5%. The price of property will continue to appreciate, that is one reason it is called an investment, so it makes sense to purchase now rather than wait.
Mortgage Rates are Predicted to Increase
Currently interest rates for a 30-year mortgage have been holding about the 4% range. Experts such as The Mortgage Bankers Association and the National Association of Realtors are predicting that by this time next year these rates will rise.
If you will be financing your home purchase, this increase would greatly impact the amount of your mortgage payment and the amount you could borrow.
If you Rent, you already Pay a Mortgage
Maybe you are hesitant to buy because you don’t think you could handle the obligation of a mortgage. Well unless you are lucky enough to live somewhere rent free, you are probably already paying a mortgage – your landlords.
Buying a home with a mortgage might seem a lot more intensive than renting but the benefits will always be great. As an owner, your mortgage payments help you build equity in your home that you can use later for a variety of uses. Also when you own it is yours to do with as you please; paint or full remodels are options.
If you have been thinking about buying a home, why wait? Interest rates and home prices are predicted to rise, so now is the time to make the move. We are here and ready to help you find the home of your dreams now!!