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June Is National Home Ownership Month: 217,726 Reasons To Buy Now

By
Real Estate Agent with Coldwell Banker Realty 179530

 

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!

 

217,726 Reasons to Buy a Home Now! | Keeping Current MattersThe 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: The Cost of Waiting to Buy | Keeping Current Matters

 

Bottom Line

If you are ready, willing and able to buy a home, waiting doesn't make sense.

 

Related Articles On National Homeownership Month:

 

 

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!

 

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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

Posted by

 

 Nina Hollander, RE/MAX Broker, Realtor

 

 

 

Broker, Realtor, MBA, GRI, ABR, SRES, CDPE, SFR, SPS, CMRS
Carolinas Realty Partners with Coldwell Banker Realty
Direct: 704-779-0813
Website: www.GreatHomesInCharlotte.com
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Disclaimer:  Nothing in this blog article is to be construed as legal advice, tax advice, or financial advice.  For legal advice see an attorney.   For tax advice or financial advice see a tax attorney, certified public accountant, or other qualified professional.

 

Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

George Souto ~ it really doesn't make sense to wait. In many parts of the country both home prices and interest rates are going up.

Jun 10, 2015 09:18 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Larry Johnston ~ in my book, it's almost always a good time to buy a home; but some times are better than others.

Jun 10, 2015 09:18 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Good morning, Debbie Reynolds ~ I don't think that buying a home will cost more in the future, I am convinced of it.

Jun 10, 2015 09:19 PM
Sham Reddy CRS
Howard Hanna RE Services, Dayton, OH - Dayton, OH
CRS

Absolute reality check.  Most consumers are not that well educated in this aspect.  May be we should take up on ourselves to educate them!!!

Jun 10, 2015 09:20 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Hi Sham Reddy ~ I keep trying to do my share with this series of reasons to own during June, which is officially National Homeownership Month. And I've been blogging about this rent vs buy issue for a couple of years now, quite regularly. I'd love to see more agents do so as well. Maybe if there were more of us educating the public on this subject, nore of the public would wake up.

Jun 10, 2015 09:25 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Jamed Dray ~ we all have a few of those people who can't get off the fence. I just put them on the back burner and wait. Amazingly enough some suddenly see what's happening in the market and call me to do something quickly. Others will probably sit on that proverbial fence forever doing a "woulda, coulda, shoulda" mantra.

Jun 10, 2015 09:26 PM
Robert Bob Gilbert
Berkshire Hathaway HomeServices Anderson Properties - Katy, TX
Your Katy TX ( West of Houston) Real Estate Expert

Nina, excellent post and I will book mark this for future refernce when I get a fence sitter as a client.. 

Jun 11, 2015 06:23 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Robert (Bob) Gilbert ~ thanks... and use it to your heart's content. Pictures are worth a thousand words!

Jun 11, 2015 08:28 AM
Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Nina

Buying a home is flat out good common sense.

Good luck and success.

Lou Ludwig

Jun 11, 2015 09:38 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Nina, I know some buyers around here are waiting for prices to stabilize, but we are seeing 11% increase overall, and in one neighborhood 26%!   

Jun 11, 2015 11:43 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Good morning, Lou Ludwig! Have you ever noticed that common sense just isn't so common these days?

Jun 11, 2015 09:26 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Good moring, Joan Cox. How often have I seen that? With buyers they wait and wait and pay more. And when the market was going sideways a few years ago, I saw sellers wait and wait and home prices just went down.

Jun 11, 2015 09:27 PM
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Real Estate Agents - Luxury - Divorce

Yes...we are seeing few fence sitters as the reality of price increases and interest rate rises creep thru the marketplace.

Jun 11, 2015 09:38 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Sally K. & David L. Hanson ~ and don't you just know that those long-time fence sitters will cry the loudest when both home prices and interest rates go up?

Jun 11, 2015 09:44 PM
Roy Kelley
Retired - Gaithersburg, MD

This is a great reminder. Home ownership is the primary source for wealth for most families.

Jun 12, 2015 04:10 AM
Kathy Streib
Cypress, TX
Home Stager/Redesign

Nina- you make a good argument for buying right now!!!  Well done. 

Jun 12, 2015 05:46 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Nina, you have lots of reasons to buy a home, and you have been doing a great series on this! 

Jun 12, 2015 11:25 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Thanks, Joan Cox! I'm about to do another reason hopefully sooner today, than later!

Jun 12, 2015 11:30 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Kathy Streib ~ thanks, Kathy. I feel this is really an important topice that won't get stale a year from now.

Jun 12, 2015 11:31 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Roy Kelly ~ it's amazing when you really look at it, how much of many Americans' wealth stems from their home.

Jun 12, 2015 11:31 PM