I am waiting to buy. As a Realtor I hear that statement a lot. Of course then I ask “why”?
Many reasons come up:
I want a bigger down payment
I am working on my credit
I am waiting until more houses are on the market
When prices quit going up I will buy
I want to wait until right before my lease is up (big timing danger). Waiting until you are too close and not find the right place, then boom you need to sign another year’s lease.
As the potential Home Buyer you do get to choose your timing on what is right for you. My main goal around this conversation as a Realtor is to make sure you are at least taking some action to know which ever of the reasons above (or one of the many others) you are holding to is valid for you at this time. Many people I have worked with feel they need more money, or they need to fix their credit only to find out once they have consulted with a Mortgage expert (Debbie Leviton, American Pacific Mortgage) 206-406-1058, that they really are ready right now to get a mortgage at rates they didn’t realize were available and/or the payment will be better now than if they save a little more but interest rates go up at all.
Check out the Info attached to show you how much you’re Buying power changes as rates go up (which they have been recently)
As you can see, if interest rates go up even a little bit the amount you can spending on your dream house starts dropping quickly.
Do yourself the favor of at least consulting with your personal Mortgage expert and gather all the data needed to feel you are making a “Wise and Informed Decision”.
Then call me, Robby (your Realtor) Leviton 206-910-1632 and lets start going over your next steps towards Home Ownership.
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