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A Practical Approach for a Younger, Smarter Generation of Home Buyers
Thinking about buying a home? Statistics tell us that 40 million Americans are on the move annually and nearly 75 percent of the population moves every five years. If you’re thinking about buying a new home, or your first home, those statistics need to be seriously considered.
While it’s no secret that interest rates have fluctuated within a historically low range for more than 10 years now, it doesn’t necessarily mean that now is the best time for you to buy. Here are the questions you should be asking yourself before getting emotionally involved in the process of searching for a new home.
Is this the best time for me to buy a home? The one thing that most economists are in full agreement on is that interest rates will eventually rise. In a market where we’re seeing little to no appreciation year after year to begin with, higher interest rates will most likely put downward pressure on today’s home values. So while you’re trying to determine if you can afford both the mortgage payment and a life, spend a little time thinking about the eventual exit strategy for when the time comes.
What does your crystal ball tell you? Imagine ... more

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