Should I BUY NOW or WAIT until next year?

By
Real Estate Agent with Hollish Hill Group, JPAR Stellar Living

Should I Buy Now or Wait Until Next Year?

I've been looking for an easy way to answer this question in a general way. I mean, when I'm asked this question, which is quite often, I usually answer with very specific insights into local market data. When I saw this infographic by Keeping Current Matters, I thought it was worth sharing because it takes a more generic approach and it calculates a cost for waiting. 

Keeping Current Matters InfoGraphic

All of their data comes from CoreLogic, Freddie Mac, and Bankrate and they make a few assumptions. 1) That interest rates will go up by 0.2% and 2) that home prices will increase by 5.4%. So this graphic is best if these assumptions match up to your neighborhood trends.

Do these trends line up with your local market?

Image by <a href="https://pixabay.com/users/SofieZborilova-3534679/?utm_source=link-attribution&utm_medium=referral&utm_campaign=image&utm_content=2537510">Sofie Zbořilová</a> from <a href="https://pixabay.com/?utm_source=link-attribution&utm_medium=referral&utm_campaign=image&utm_content=2537510">Pixabay</a>

 

Does the graphic speak to your situation?

It was interesting that they targeted the infographic to Millennials who are likely to be First Time Home Buyers who are not concerned with buying and selling and timing the two. I know that I have many clients who are either non-Millennial first time buyers or Millennial second time buyers. 

The price point is also significantly below the average cost o a first home in the Washington DC Metropolitan area.

 

What part did you find most compelling? 

For me the most compelling part of the infographic is the section in the lower right hand corner that shows the impact over 30 years. It's amazing to think that waiting could cost $32,832. That's at least one year of college tuition. 

 

Is it clear that the time to buy is Now?

If you'd like to discuss the timing of your next move, give me a call to Get Started.

Posted by

______________________________________________________________________

Dana Hollish Hill

Founder, Hollish Hill Group

REALTOR * Broker * Coach 

JPAR Stellar Living

800 S Frederick Ave, Suite 200, Gaithersburg, MD 20877

office 301.944.9070  

cell  202.271.5301

web hollish.com

Comments (3)

Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Dana,  This is so true and a excellent flyer to put into door hangers in your area.  Make it a great day!

 

Oct 23, 2019 09:31 AM
Dana Hollish Hill

Now why didn't I think of that. Great idea. Thanks!

Oct 23, 2019 12:49 PM
Kris Collis, Associate Broker
Smart Way America Realty - East Stroudsburg, PA
Professional Results you Expect 570-801-5525

Dana Hollish Hill 

Excellent blog, take away is clear over 30 years. "It's amazing to think that waiting could cost $32,832. That's at least one year of college tuition."

Oct 25, 2019 06:44 AM
Richard Weeks
Dallas, TX
REALTOR®, Broker

Great information thanks for sharing.  Hard to argue with the facts.

Oct 28, 2019 02:00 AM