There are many reasons to buy a home, here are 4 why this Fall is the TIME!
- Prices Will Continue to Rise
Home prices have appreciated by 3.6% over the last 12 months and are expected to increase at a rate of 5.8% over the next year.
2. Mortgage Interest Rates Re Projected to Increase Next Year
Interest rates for a 30 year mortgage have hovered at about 3.5%. This is good for people in the market right now, because low interest rates allow you to buy more house. Don’t wait though, because The Mortgage Bankers Association, Fannie Mae, Freddie Mac, and the National Association of Realtors are all projecting that rates will increase by this time next year.
3. Either Way, You Are Paying a Mortgage
Unless you are living rent free, you are paying a mortgage…why not make it yours?
4. It’s Time to Move on With Your Life
The ‘cost’ of a home is determined by two components: the price of the home and the current mortgage rate. Both are on the rise.
If they weren’t, would you wait?
Figure out the reason you’re buying and decide if it is worth waiting.
Buying a home sooner rather than later could lead to substantial savings. Reach out to us to determine if home-ownership is the right choice for you and your family this fall.