Should You Consider Buying Now Before Market Conditions Change?

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For those on the fence about buying a home right now, you don’t have to look very far to find a great reason to buy in our current market. We are going to share with you four reasons today why you should consider buying a home in this market. Without further ado, let’s get to it:

1. Prices will continue to rise. The Home Price Expectation Survey polls a distinguished panel of over 100 market experts. Their most recent report projects home values to appreciate over 18% over the next 5 years. Home values will continue to appreciate, so waiting longer to purchase may cause you to miss out on this appreciation, and pay more for a home later than you would now.

2. Mortgage rates are going up. The Mortgage Banker’s Association, Fannie Mae, Freddie Mac, and the National Association of Realtors are all in unison in saying that interest rates will rise by at least 1% by this time next year. For every point they go up, your purchasing power decreases by 10%. If you’re going to need a mortgage to finance your home, buying sooner rather than later is the key.

3. Pay off your own mortgage. If you rent a home, you are paying off someone else’s mortgage each month, plus the rate of return. Owning a home makes more financial sense than renting, because you are paying down the principal on your own mortgage instead of doing the same for someone else.

4. The time is right. The cost of a home is determined by two major components, price and interest rate. Both are on the rise, is it worth waiting for you? One of the most important aspects to buying a home is your motivation. Whether you want to have a better space for your family to live, or you want to have control over renovations, market trends are set up perfectly to buy right now.

If you’ve been considering buying and want some expert advice on the matter, give one of our buyer specialists a call today at (956)-948-4129 for a FREE consultation. We guarantee results in every aspect of your transaction, and we look forward to hearing from you!