Should I stay or should I go now?
Be honest, were you signing that song by, The Clash, in your head when you read that title? If you were raised in 80's, you probably were!
Although, in my opinion, the 80's had the most awesome music of all time, that's not really where I'm going with this.
One of the most common questions I've been getting lately, is whether you should buy/sell now, or wait until next year. If you've been wondering the same thing, here are some important things to consider:
Some highlights:
The Cost of Waiting to Buy is defined as the additional funds it would take to buy a home if prices & interest rates were to increase over a period of time.
Freddie Mac predicts interest rates to rise to 4.4% by next year.
CoreLogic predicts home prices to appreciate by 5.0% over the next 12 months.
If you are ready and willing to buy your dream home, find out if you are able to!
Now, don't get me wrong. If the predictions by Freddie Mac are correct, a 4.4% interest rate is still historically low, BUT when you see the difference in your payment and the total amount paid out over 30 years, it can be significant. Waiting can affect the price point you qualify for and reduce your purchasing power.
If you need to sell and you're considering holding off for prices to increase, remember that the house you're hoping to buy is also increasing in value.
Something to think about, yes??
Contact me for a FREE, NO-OBLIGATION consultation and we can discuss your particular situation so you can make the best decision for you and your family!
