June is National Homeownership Month, as I keep reminding everyone... and from KCM (Keeping Current Matters) came the 217,726 Reasons To Buy A Home Now! Who can argue with 217,726 reasons to buy a home now?
217,726 Reasons to Buy a Home Now!
The inaugural Opportunity Cost Report was released recently by realtor.com. The report explained that “with interest rates and home prices expected to climb in the next year, the financial penalties of delaying or forgoing a home purchase in today's market have become very steep”. The report estimates that, based on today's dollars, the average purchaser would accumulate $217,726 in increased wealth over a 30-year period. (You can get the projected wealth increase for almost 100 metros here.)
What could this mean to someone sitting on the fence waiting to buy?
Experts believe that both home prices and mortgage interest rates will increase over the next twelve months. Obviously, if this does happen, the monthly cost of a home a year from now will be dramatically higher than it is today. The Opportunity Cost Report breaks down exactly how much a purchaser could lose over increments of one year and three years. Here are the results based on an average purchaser in the U.S. delaying their purchase:
Bottom Line
If you are ready, willing and able to buy a home, waiting doesn't make sense.
Related Articles On National Homeownership Month:
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Reason #1 To Own Your Own Home
- Reason #2 To Own Your Own Home
- Reason #3 to Own Your Own Home
- Reason #4 To Own Your Own Home
If you are a Charlotte metro are renter, who would like to make the transition from renter to homeowner, contact Carolinas Realty Partners.
We can help you turn your rent payments into mortgage payments!
SEARCH ALL CHARLOTTE METRO AREA HOMES HERE
If you are considering selling or purchasing a home in the Charlotte metro area, I would love an opportunity to earn your business, exceed your expectations, and to prove to you that:
"The Right Broker Makes All The Difference."
"Did you know" image courtesy of FreddieMac.com
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