Thursday July 17, 2014
You’ve done your research, you’ve found your perfect neighborhood, chosen the home design that fits your lifestyle, and even picked out the homesite where you picture building the home of your dreams.
But–you wonder if now is the best time to buy, so you wait. Housing experts and home financing experts agree, playing the waiting game could be very costly. How much could waiting to buy cost you?
We found a list of very compelling reasons to take advantage of today’s market published by keepingcurrentmatters.com – a leader in real estate trends and real-time news of the market:
Here are the top 5 reasons to buy today, according to Keeping Current Matters:
1. Competition is about to Increase
Every spring a surge of prospective purchasers enter the housing market. Like you, they will want the best home available in the best location at the best price. They will be competing with you for the ‘steals’ in the market. Don’t miss the opportunity to get that ‘once-in-a-lifetime’ buy available today that no longer be available as the market heats up..
2. Price Increases Are on the Horizon
Nationally, home prices are projected to appreciate by 4.5% in 2014 and by over 19% from now until 2018. First home buyers will probably pay more both in price and interest rates if they wait until the spring. Even if you are a move-up buyer, it will wind-up costing you more in net dollars as the home you will buy will appreciate at approximately the same rate as the house you are in now.
3. Owning a Home Helps Create Family Wealth
Whether you rent or you own the home you are living in, you are paying a mortgage. Either you are paying your mortgage or your landlord’s. The Federal Reserve, in a recent study, revealed that the net worth of the average homeowner is 30 times greater than that of a renter.
4. Interest Rates Are Projected to Rise
The Mortgage Bankers Association, the National Association of Realtors, Freddie Mac and Fannie Mae have all projected that the 30-year mortgage interest rate will be over 5% by the spring of 2015. That is an increase of almost 3/4 of a point over current rates.
5. Buy Low, Sell High
Most would all agree that, when investing, we want to buy at the lowest price possible and hope to sell at the highest price. Housing can create family wealth as long as we follow this simple principle. Today, real estate is selling ‘low’ compared to where it will be next year. It’s time to buy.
So, are you interested in learning more about taking advantage of the market and buying your new home? Stop into any of our neighborhoods and speak with a passionate Neighborhood Sales Manager who will walk you though how you can make your dream of a new home a reality.
Or, you can call our Online Sales Concierge at 800.325.3030 to set up your appointment and private tour of one of our award-winning neighborhoodsacross Central PA.