Do You Know the Cost of Waiting?
May 5, 2017 | Mac Rogers

Some buyers have this notion that if they wait for the market to go down, they will be better off. First of all no one knows when and if the market will go down. Second, there are also other factors to consider when you do this. For example, if you wait for 1-2 years, you would have missed out on the 1-2 years of equity appreciation. You would have also lost out on possible tax benefits of owning a home.

There's also interest rates to consider. Can your level of savings/down payment keep up with the pace of interest rates raising and home prices that keep appreciating? Keep this in mind. #brokermac

First Time Home Buyers, For Buyers, Infographics, Interest Rates, Pricing


Some Highlights:

  • The “Cost of Waiting to Buy” is defined as the additional funds it would take to buy a home if prices and interest rates were to increase over a period of time.
  • Freddie Mac predicts that interest rates will increase to 4.8% by this time next year, while home prices are predicted to appreciate by 4.9% according to CoreLogic.
  • Waiting until next year to buy could cost you thousands of dollars a year for the life of your mortgage!
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