Four Great Reasons To Consider Buying A Home Today Instead Of Waiting

Dated: 07/25/2016

Views: 193

4 Reasons to Buy This Summer! | Keeping Current Matters


Summer is here! The temperature isn't the only thing heating up right now, so too is the housing market in many areas of the country! 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 Index reports that home prices have appreciated by 5.9% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 5.3% over the next year. The Home Price Expectation Survey polls a distinguished panel of over 100 economists, investment strategists, and housing market analysts. Their most recent report projects home values to appreciate by more than 3.2% a year for the next 5 years.   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 remained around 4%. Most experts predict that they will begin to rise over the next 12 months. The Mortgage Bankers Association, Freddie Mac & the National Association of Realtors are in unison, projecting that rates will be up almost a full percentage point 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


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 rent pay down the principal of a landlord plus a rate of return. That’s yet another reason owning often does—as Americans intuit—end up making more financial sense than renting.”

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 whether 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.


Call me to learn more about the real estate process, the state of your local market and to help you buy or sell a home. I'm always happy to answer any and all questions. To determine the value of your home click here or call / text Ray Sage at (720) 933-4729 for your complementary home valuation.


Ray Sage, REALTOR
(720) 933-4729
www.DenverRealEstateByRay.com


Thinking of selling your home?  CLICK HERE for an instant valuation of your home - FREE!

Thinking of buying a new home? Click to start your new home search: Aurora, Denver, Highlands Ranch, Littleton, Lone Tree, Englewood, Castle Rock, Golden, Lakewood, Thornton, Westminster, Parker


* Content provided courtesy of Fairway Independent Mortgage and Lorie Jackson

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Sheryll White

As a Full Time real estate agent for the past 23 years, Sheryll has helped hundreds of home owners in Colorado buy and sell their homes. Sheryll's easy going, no pressure style and her in depth knowl....

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