Here are four great reasons to consider buying a home today, instead of waiting.
1. Prices Will Continue to Rise
CoreLogic’s latest Home Price Indexreports that home prices have appreciated by 6.7% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 5.0% 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 Survey shows that interest rates for a 30-year mortgage have hovered around 4%. Most experts predict that rates will rise over the next 12 months. The Mortgage Bankers Association, Fannie Mae, Freddie Mac and the National Association of Realtors are in unison, projecting that rates will increase by this time next year.
An increase in rates will 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 are paying 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 the rise.
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 purchasing a home for you and your family is the right thing for you to do this year, buying sooner rather than later could lead to substantial savings. Come start your home search with me today for accurate and up to the minute data direct from the MLS or give me a call so that we can discuss your unique real estate needs. 803.606.4284
Author:Dustin Johns - Tara Price Phone: 803-606-4284 Dated: September 19th 2017 Views: 330 About Dustin Johns -: Hello! I operate Resource Realty Group, a dynamic Real Estate Brokerage with experts specializing in...
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Hello! I operate Resource Realty Group, a dynamic Real Estate Brokerage with experts specializing in every type of property in South Carolina. My firm is known as the "Little Big Guys", meaning our agents have the same tools and connectivity as larger firms with a much more potent marketing product to enhance the purchasing and selling experience. When our company lists your real estate we really get to know each property and emulate a potential buyer's shopping process to spotlight "must have" features. If you are buying, we use the same technique to identify perfect properties, verify physical and financial conditions, and negotiate a successful contract. Customized representation is a the fun part of our business and a critical element to ensure a pleasurable real estate experience for you.
My talents shine when it comes to investment properties, bank owned assets (REO), and gaining exposure for any properties we represent. I love complex transactions and creatively resolving issues to bring all parties together for one happy closing! Other than real estate, if it involves fishing, traveling, Pearl Jam, or sports, I'm interested in it.
I won't bore you with countless stats of all the successful transactions my company has achieved or the $100+ millions of closed sales data. That's in the past. Your next real estate transaction is now and myself or my team are here to listen to your needs and make them happen! Just call me at 803.513.4247, email Dustin@DustinJohns.com or search ResourceColumbia.com.
In these days of low interest rates, it can be a great idea to get int
"The Dustin Johns team is very knowledgeable of the area. They helped us find the perfect property for our family at just the right price. We have already referred Tara Price to friends and family who are also very pleased with their experience. We are very blessed to have worked with her and the Dustin Johns Group!"