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The Cost of Waiting to Invest in Real Estate
Are you reading about home interest rates and home prices and wondering if now is the time to buy a home? Are you an investor looking for low prices and hoping to take advantage of distress sales and low rates? Are you a first time homebuyer listening to the news and wondering if you should take the plunge into homeownership?
How do you make this decision? This entry will address why now may be the time to look seriously into buying based on the current interest rates and home prices. We'll call this the "Cost of Waiting".
The Cost of Waiting: Today home prices are low and interest rates are low. Do you expect the home prices to continue to decline? What about interest rates?
Let's take an example of home today priced at 450,000 with a rate of 4.875%. Assume the price drops 5% but at the same time rates increase 1% to 5.875%. Then worst case - prices actually do not drop but the interest rate increases.
What is the best decision? Numbers tell the story. Based on our assumptions above, - current prices and current interest rates - acting now could save the homebuyer 8400.00 over 5 years ... more

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