Dated: 03/12/2018

Views: 39

4 Reasons Spring is a Great Time to Buy a Home!

4 Reasons Spring is a Great Time to Buy a Home! | Keeping Current Matters

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

Prices Will Continue to Rise

CoreLogic’s latest Home Price Index reports that home prices have appreciated by 6.6% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 4.3% over the next year.

The bottom in home prices has come and gone. Home values will continue to appreciate for years. Waiting no longer makes sense.

Mortgage Interest Rates Are Projected to Increase

Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year mortgage hovered close to 4.0% in 2017. Most experts predict that rates will rise over the next 12 months. The Mortgage Bankers Association, Fannie Mae, Freddie Mac and the National Association of Realtors are in unison, projecting that rates will increase by nearly a full percentage point by this time next year.

An increase in rates will impact YOUR monthly mortgage payment. A year from now, your housing expense will increase if a mortgage is necessary to buy your next home.

Either Way, You Are Paying a Mortgage

There are some renters who have not yet purchased a home because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s.

As an owner, your mortgage payment is a form of ‘forced savings’ that allows you to have equity in your home that you can tap into later in life. As a renter, you guarantee your landlord is the person with that equity.

Are you ready to put your housing cost to work for you?

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 if 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 now is the 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.


Want to Advertise on this Site?

Latest Blog Posts

GSEs Try To Boost Affordable Housing Efforts

GSEs Try to Boost Affordable Housing Efforts DAILY REAL ESTATE NEWS | THURSDAY, MARCH 22, 2018 Under an umbrella of higher home prices, mortgage financing giants Fannie Mae and Freddie Mac have

Read More

Are You BUYING OR SELLING With Non Permitted Additions

Non-Permitted Addition, Improvement, or ConversionsFHA / VANon-Permitted Additions, Improvements or Conversions require:* The quality of the work to be described in the appraisal and deemed

Read More

Now Is The Best Time To Move Up

Moving up Is MORE Affordable Now Than Almost Any Other Time in 40 Years If you are considering selling your current home, to either move up to a larger home or into a home

Read More

5 Tips For Buying In Todays Sellers Market

5 Tips for Buying in Today’s Seller’s MarketIn many metro housing markets these days, you’ll find low inventory, rising prices, bidding wars above the asking price, and fewer sellers willing

Read More