Thinking of Buying a Home? There's a Cost to Waiting...

Home prices are normalizing but appreciation and interest rates are projected to rise in 2015.

This chart shows the cost of waiting if you were to buy a $500,000 home.  Waiting just 12 months would raise the price of the home and with projected rates you would be looking at paying almost $5,000 more per year.

There's no doubt, homebuyer purchasing power will be affected as interest rates go up.

Here are a few examples showing different price points and how your purchasing power would be decreased assuming you want to keep principle and interest the same.

So why not make your move now and get more home for your money?

Start your home search now.  If you have questions about our local real estate market, or how anticipated price appreciation and interest rate hikes could affect your future, call The Kombrink Lobrillo Team at RE/MAX Great American North at (630) 488-3300.