Here are a few great reasons to consider buying a home this Summer instead of waiting.
Prices Will Continue to Rise
Home prices have appreciated by 7% over the past year and expected to keep appreciating in the next year and years to come.
Mortgage Interest Rates Are Projected to Increase
Interest rates for a 30-year mortgage have increased by half a percentage point already in 2018 to around 4.5%. Most experts predict that rates will rise over the next year.
An increase in interest rates will impact your monthly mortgage payment.
Either Way, You Are Paying a Mortgage
There are some renters who have not yet purchased a home because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that unless you are living with your parents rent-free, you are paying a mortgage one way or another ... either yours or your landlords!
As an owner, your mortgage payment is a form of forced savings that allows you to have equity in your home that you can tap into later in life. As a renter, you guarantee your landlord is the person with that equity.
Look at the actual reason you are buying and decide if it is worth waiting. Whether you want to have a great place for your children to grow up, you want your family to be safer, or you just want to have control over renovations, maybe now is the time to buy.
If the right thing for you and your family is to purchase a home this year, buying sooner rather than later could lead to substantial savings.
Are you ready to LOOK FOR THE HOME OF YOUR DREAMS?