Why Waiting To Buy Might Not Make Sense

Dated: 04/02/2015

Views: 81

the kcm crew 3/31/15



Whether you are a first time or a move-up buyer, there are two factors that will impact the amount of house you can afford in your price range: home prices & mortgage rates.

Let’s look at what the experts are predicting over the next twelve months for these two areas:

PRICES

Over 100 economists, real estate experts and investment & market strategists were recently polled as a part of the Home Price Expectation Survey. They were asked to project where home prices are headed. The average value appreciation projected over the next twelve-month period is approximately 4.4%.

MORTGAGE INTEREST RATES

In the latest Economic & Housing Market Outlook from Freddie Mac, they predict that the 30-year fixed mortgage rate will be 4.7% by this time next year. As of last week, the Freddie Mac rate was 3.69%.

What does this mean to you?

If you are a first-time buyer currently looking at a home priced at $250,000, this is what it could cost you on a monthly basis if you wait until next year to buy:

Cost Of Waiting Spring 250K | Keeping Current Matters

If you are a move-up buyer currently looking at a home priced at $500,000, this is what it could cost you on a monthly basis if you wait a year to buy:

Cost Of Waiting Spring 500K | Keeping Current Matters

Bottom Line

With both home prices & interest rates projected to increase, waiting to buy could put a serious dent in your family’s wealth.

Share

Blog author image

Jason DePaz

Jason has been a real estate broker since 2005 and has continued to sharpen his skills to become one of the most outstanding agents in Portland. Working with Jason you will find that he is an excelle....

Want to Advertise on this Site?

Latest Blog Posts

What Is Your Home Worth In Portland Oregon

Curious of what your home is currently worth?  I'll create a detailed report for you free and drop off a hard copy to your home.  Click on the link below, enter your info and receive your

Read More

Great Investment 1500000 1816ft2 Close In SE Portland Pocket Community Of Brand New Homes For Sale

$1500000 / 1816ft2 - Close in SE Portland pocket community of brand new homes for sale. The... 10 Bed )

Read More

Just Listed Properties In Portland Oregon

New listings perfect for your first home!  Check out these just listed!

Read More

Most Expensive Listings In Lake Oswego

Here are the top 5 most expensive listings in Lake Oswego OR. ;

Read More