Four Reasons To Consider Buying A Home

Four Reasons To Consider Buying A Home

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

 1.Prices Will Continue to Rise
CoreLogic’s latest Home Price Index reports that home prices have appreciated by 6.4% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 5.2% 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% 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 started to inch up, most experts predict that they will begin to rise even more 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 up almost three-quarters of a percentage point by this time next year. 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. 4 REASONS TO BUY A HOME NOW!

 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 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


Julie Schnepp Headshot
Author:
Phone: 765-617-9430
Dated: February 12th 2016
Views: 428
About Julie: Co-Founder and President of the RE/MAX Legacy Team Throughout her career, Julie has received many...

Property Search









RSS Feed

View our latest blog posts in your RSS reader. Click here to access. RSS

Search Blog

Recent Blogs

Pendleton Schools Open Houses Sunday February 9th Starting At 1 PM - Join our RE/MAX Legacy team for 3
Where Is The Easter Egg In Your House - Hi friends!With Easter right
Real Estate And The Patriots - Hey all,The Super Bowl got me
What Does MLK Have To Do With Real Estate - Fill in the blank…“I have a

Saved Properties

This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

Click 'Save' to add a property to this list.

Register / Login

New & returning visitors please enter your information to login.

By clicking 'register' you are agreeing to our terms of use & giving us expressed written consent to contact you.

Questions? Comments? Complaints?

This message will go directly to the head of our team.

Location & Address

RE/MAX Legacy
6692 S SR 67
Pendleton, IN
765-274-4781
765-778-3620