To Buy or Not to Buy is... To Be or Not To Be.

By
Real Estate Agent with Your Town Realty

Here is something for home buyers to think about...

With winter just about over and the Spring season right around the corner.  If you are one of the thousands that are in hibernation and waiting for the weather to break to start your new home search.  That may work against you in the long run.  With interest rates slowing rising (Just like gas prices rising) you may end up paying more for that house when it's all said and done.  If you buy a $150,000 house at this time with 10% down and the interest rates of 3.75% your Principle and Interest payment will be $625.21 a month.  Over 30 years that will amount to $225,075.60.  If you wait and the interest rate goes up (estimated to be at 5% before years end) that would take your payment from $625.21 per month to $880.96 and over 30 years that is a total of $317,145.60.  The monthly difference is $255.75 more per month and in 30 years that is $92,070 you will pay for that house just for waiting.

To Be or Not to Be... Paying alot more for that house you want.  The choise is yours.

 

Comments (2)

Bob Miller
Keller Williams Cornerstone Realty - Ocala, FL
The Ocala Dream Team

You are right Steve.  Paxatauny Phil didn't see his shadow this year!  Early Spring!

Feb 28, 2013 12:49 AM
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

Steve, It is time to spring into action and check into buying.

Mar 01, 2013 12:49 PM