4 Reasons Why Fall Is A Great Time To Buy A Home

Dated: 09/10/2018

Views: 537


Image result for Reasons Why Fall Is A Great Time to Buy A Home!

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

1. Prices Will Continue to Rise

CoreLogic’slatestHome Price Insightsreport reveals that home prices have appreciated by 6.2% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 5.1% over the next year.

Home values will continue to appreciate for years. Waiting no longer makes sense.

2. Mortgage Interest Rates Are Projected to Increase

Freddie Mac’sPrimary Mortgage Market Surveyshows that interest rates for a 30-year mortgage have already increased by half of a percentage point, to around 4.5% in 2018. Most experts predict that rates will rise over the next 12 months. TheMortgage Bankers Association, Fannie Mae, Freddie Macand theNational Association of Realtorsare in unison, projecting that rates will increase by half a percentage point to around 5.1% by this time next year.

An increase in rates will impact your monthly mortgage payment. Ayear 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 homes 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 build equity in your home which you can then tap into later in life. As a renter, you guarantee your landlord is the person building 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 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.

Want to Advertise on this Site?

Latest Blog Posts

Are Renovations Worth The Money

If you've been putting off selling your home to do renovations, THIS IS A MUST READ!  Each geographic area is different, but before you start, know what your return on investment is likely

Read More

7 Reasons To List Your House For Sale This Holiday Season

Every year at this time there are many homeowners who decide to wait until after the holidays to list their homes for the first time, while others who already have their homes on the market decide

Read More

To All The Homeowners Out There Whos Planning On Contacting An Agent For A CMA

What is a Comparative Market Analysis?Before listing a home with a real estate agent or putting home at the market, some smart sellers get a comparative market analysis. Comparative market analysis

Read More

Local Holiday Events

There is no better way to get to know a town than to visit it during the Holidays!  Here is just a short list of some fun activities to enjoy.The Christmas Ice CavernsLocation: 437 US

Read More