Home Size2,907 sqft
Days on Market1
Thinking of Buying a Home? What are You Waiting For?
If you are a first time buyer thinking of buying a home or moving up to the home of your dreams in 2019, here are four great reasons to consider buying a home now.
1. Prices Will Continue to Rise
The Home Price Expectation Survey polls a distinguished panel of over 100 economists, investment strategists, and housing market analysts. Their most recent report projects appreciation in home values over the next five years.
The bottom in home prices has come and gone. Home values will continue to appreciate. Waiting no longer makes sense.
2. Mortgage Interest Rates Are Projected to Increase
Although Freddie Mac’s Primary Mortgage Market Survey shows 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 Mae, Freddie Mac & the National Association of Realtors are in unison projecting that rates will be increasing by the end of 2019.
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.
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.”
In other words, you are either paying your own mortgage or your landlord’s mortgage. Do the right thing for your financial future and start paying your own mortgage.
4. How Long Have You Been Thinking About Buying a Home?
Is it 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 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.
Ready to get started? Call or text me at (913) 515-3250 or contact me here.
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(all data current as of 12/10/2019)
Listing information deemed reliable but not guaranteed. Read full disclaimer.