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Four Reasons To Buy Your Home Now!

Buying Couple

Here are four great reasons to consider buying a home today instead of waiting

  • Prices Will Continue to Rise

The Home Price Expectation Survey polls a distinguished panel of over 100 economist, investment strategists, and housing market analysts.  Their most recent report projects appreciation in home values over the next five years to be between 11.7% (most pessimistic) and 27.5% (most optimistic).

The bottom in home prices has come and gone.  Home values will continue to appreciate for years.  Waiting no longer makes sense.

  • Mortgage Interest Rates Are Projected to Increase

Although Freddie Mac’s Primary Mortgage Market Survey show that interest rates for a 30-year mortgage have softened recently, most experts predict that they will begin to rise over the next 12 months.  The Mortgage Bankers Association, Fannie May, Freddie Mac and the National Association of Realtors are in unison projecting that rates will be up approximately three quarters of a percentage point over the next 12 months.

An increase in rates will impact YOUR monthly mortgage payment.  Your housing expense will be more a year from now if a mortgage is necessary to purchase your next home.

  • Either Way You are Paying a Mortgage

 As a paper from the Joint Center For Housing Studies at Harvard University explains:

“Households must consume housing whether they own or rent.  Not even accounting for more favorable tax treatment of owning, homeowners pay debt service to pay down their own principal while households that pay rent pay down the principal of a landlord plus a rate of return.  That’s yet another reason owning often does–as Americas intuit–end up making more financial sense than renting.”

  • 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 whether it is worth waiting.  Whether yo 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 it is 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.

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Paul Rosso

Trusted Real Estate Adviser at RE/MAX Properties, Ltd
Paul has been selling real estate for over 30 years.. He has consistently been a top producer and has helped hundreds of families sell and buy homes in the area. Paul has achieved the prestigious RE/MAX Home Of Fame designation, the highest award given by RE/MAX. The award is given to those agents who have consistently produced the highest level of sales production and is awarded to less than 1% of all the agents in the world.

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