Today in our series titled "Faith or fear: You Choose is now the best time to sell your house?" The Florida Tolbert Team at Keller Williams Realty of Lake Nona are going to address the rising prices of both homeowners and house renters and share with you the facts that prove now is the BEST TIME to PURCHASE a New Home Construction Homes For Sale.
As you can see from this article, renting costs are rising faster than housing prices and when you consider that the cost of home ownership has increased at a pace of 4% annually and you are building equity and ownership versus rents are rising 4% to 7% with each annual renewal, you must realize now is the time to become an owner instead of a renter.
And why NOW versus LATER? Because with each 1% interest rate increase, your purchase power goes down 10%. What this means is for a $300,000 home, with each 1% interest rate increase, the person that could qualify for this $300,000 house could now only qualify for $270,000 house.
And with the 30 year mortgage interest rate rising .75% in the last year and the Feds predicting this will continue about 4 times per year or more, it is MORE THAN TIME to purchase.
If you need to SELL a HOUSE before you can PURCHASE A HOME, then CLICK HERE to find out "WHAT's MY HOME WORTH?"
And don't delay and call The Florida Tolbert Team at Keller Williams Realty of Lake Nona today to schedule your buyer consultation so we can get you preapproved for a new home and find your dream home together before prices continue to rise and the amount of home you can afford continues to decrease daily.
Affordable housing challenge: A look at Central Fla. data
ORLANDO, Fla. – Aug. 2, 2018 – Central Florida is facing a growing housing crisis as a shortage of new homes and surging demand is driving up the cost of home prices and rent, according to a two-year study of the issue that Orange County commissioners discussed Tuesday. The scope of the problem is evident in some key numbers.