Here are four great reasons to consider buying a home today, instead of waiting.
1. Prices Will Continue to Rise
CoreLogic’slatestHome Price Indexreportsthat home prices have appreciated by 7.1% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 4.9% over the next year.
The bottom in home prices has come and gone. Home values will continue to appreciate for years. Waiting no longer makes sense.
2. Mortgage Interest Rates Are Projected to Increase
Freddie Mac’s Primary Mortgage Market Surveyshowsthat interest rates for a 30-year mortgage have remained around 4%. Most experts predict that they will begin to rise over the next 12 months.The Mortgage Bankers Association, Fannie Mae, Freddie Mac & the National Association of Realtorsare in unison, projecting that rates will increase by this time next year.
Anincrease in rateswill impact YOUR monthly mortgage payment. A year from now, your housing expense will increase if a mortgage is necessary to buy your next home.
3. 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 arepaying a mortgage-either yours or your landlord’s.
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.
Are you ready to put your housing cost to work for you?
4. It’s Time to Move on with Your Life
The ‘cost’ of a home is determined by two major components: the price of the home and the current mortgage rate. It appears that both are on therise.
But what if they weren’t? Would you wait?
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.
Author:Ken Wood Phone: 951-323-7630 Dated: June 14th 2017 Views: 98 About Ken: ...
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Here are four great reasons to consider buying a home today instead of
"Lynne was a God-sent!
Found her via a blog discussing best schools in LA. Was in LA in March 2016 for a week, exploring lodging possibilities for my family's July 2016 move to the city. Within a week she helped me fine-tune my search criteria, identify and see dozens of properties that matched these criteria, and finally find our dream property on the south bay, at the right price! Her extensive network of highly competent other agents, escrow companies, and lenders, made this out-of-state purchase as smooth as it could be, all with a smile and an infectiously positive attitude. She really felt like family and did her best for ours! If you need to buy or sell your home, just contact Lynne! I'll be entering the same review in all relevant forums. This lady needs to be recognized!!
Bought a Townhouse home in 2016 in El Segundo, CA."