Can You Afford to Wait to Buy a Home?

THE TIME TO BUY IS NOW

If you've been considering purchasing a new home, my research shows that putting off that decision any further could cost you.  Here are a couple of key reasons that you should consider buying a home sooner rather than later:

- Housing prices are healthy and growing.  In fact, in 2015, prices increased 5.7% on average in the United States according to the S&P Case-Shiller U.S. National Home Price Index, and they're expected to continue on that trajectory.  At this rate, a $200,000 home could cost you $211,400 next year and $223,450 in just two years.

- Interest rates are still low.  According to Freddie Mac, the average rate on a 30-year mortgage in 2015 was just 3.85%.  If you had a $200,000 mortgage at this rate, your payment would be approximately $983 a month.  However, the Federal Reserve may raise rates in the near future.  At 8.90%, which is the historical average interest rate, your payment would be $1,595.  That's a potential increase of $657 a month!

My commitment to supplying you with relevant economic data you need is the key to finding your new home.  Contact me today to begin your home search.

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