Make the move NOW if you want to be in your new home by the HOLIDAYS
Keeping Current Matters (KCM) posted a blog on September 8 2014 and gave us 4 strong reasons as to why now is a good time to buy before the arrival of the Winter season. Any of the 4 points are reasons why is better to purchase now instead of waiting.
I would like to add one more reason to the list and that is if you want to celebrate the Holidays with your friends and family in your new home, is better to sign the dotted lines now.
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4 Reasons to Buy Before Winter Posted: 08 Sep 2014 04:00 AM PDT It's that time of year, the seasons are changing and with them bring thoughts of the upcoming holidays, family get togethers, and planning for a new year. Those who are on the fence about whether now is the right time to buy don't have to look much farther to find four great reasons to consider buying a home now, instead of waiting. 1. Prices Will Continue to RiseThe Home Price Expectation Survey polls a distinguished panel of over 100 economists, investment strategists, and housing market analysts. Their most recent report released recently projects appreciation in home values over the next five years to be between 11.2% (most pessimistic) and 27.8% (most optimistic). 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 IncreaseAlthough Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year mortgage have softened recently, most experts predict that they will begin to rise later this year. The Mortgage Bankers Association, Fannie Mae, Freddie Mac and the National Association of Realtors are in unison projecting that rates will be up almost a full percentage point by the end of next year. An increase in rates will impact YOUR monthly mortgage payment. Your housing expense will be more a year from now if a mortgage is necessary to purchase your next home. 3. Either Way You are Paying a MortgageAs a recent paper from the Joint Center for Housing Studies at Harvard University explains: “Households must consume housing whether they own or rent. Not even accounting for more favorable tax treatment of owning, homeowners pay debt service to pay down their own principal while households that rent pay down the principal of a landlord plus a rate of return. That’s yet another reason owning often does—as Americans intuit—end up making more financial sense than renting.” 4. It’s Time to Move On with Your LifeThe ‘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 whether 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 it is time to buy. Bottom LineIf 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.
Make the move NOW if you want to be in your new home by the HOLIDAYS |
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