Will Waiting to Purchase a Home Actually Cost You Money?

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A few weeks ago, one of my clients asked, “Is waiting to buy a new home actually costing me money?

The answer is absolutely yes. The reality is that prices are appreciating in every single market across the nation. If you are a buyer and wait to buy a home, then homes will be more expensive when you finally enter the market. Waiting will cost you more.

 

Interest rates will go up and so will prices, so buy now.

 
Not only that, interest rates will go up this year. If the Fed increases rates by just 1%, then home prices would have to go down by 10% in order for your mortgage payment to remain the same. Prices simply will not go down by that much anytime soon.

So, waiting to buy a home will cost you money. If you have any other questions about your specific situation or if you would like to learn more, give me a call or send me an email. I would be happy to help you!

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