Before You Look for Your Dream Home: Know What You Want vs. What You Need!
Learn More
Do you want content like this delivered to your inbox?
Share

4 Reasons Why Buying A Home This Summer Just Might Be A Good Idea! 

Share

4 Reasons Why Buying A Home This Summer Might Be A Good Idea

Juan Murray

Juan began his real estate career in 1994 as their Housing Rehabilitation Director for the Neighborhood Assistance Corporation of America (NACA), a na...

Juan began his real estate career in 1994 as their Housing Rehabilitation Director for the Neighborhood Assistance Corporation of America (NACA), a na...

Jun 5 3 minutes read

Have you been studying the housing market recently?  Still thinking of purchasing?  Well, here are four reasons you should buy a home this summer.

1. Prices Will Continue Rising

CoreLogic’s latest U.S. Home Price Insights reports that home prices have appreciated by 3.7% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 4.8% over the next year.

Home values will continue to appreciate. Waiting may no longer make sense.

2. Mortgage Interest Rates Are Projected to Increase

Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year fixed rate mortgage have started to level off around 4.3%. 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 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

Some renters 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’ which 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 house and the current mortgage rate. It appears that both are on the rise.

But what if they weren’t? Would you wait?

Examine the actual reason you are buying and decide if it is worth waiting. Whether you want to have an excellent place for your children to grow up, greater safety for your family, or you want to have control over renovations, now could be the time to buy.

Bottom Line

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.


Courtesy of Simplifying the Market

Our client processes.

Don't forget to check out our real estate selling experience information.

Purchasing a home?

We've got your buyer concerns and questions covered.

Buying
We use cookies to enhance your browsing experience and deliver our services. By continuing to visit this site, you agree to our use of cookies. More info