Don't Wait to Buy a New Home - Do It Now!
If buying a new home has been in your thoughts recently, now is an excellent time to jump in and do it. Buying sooner rather than later could end up saving you a large amount of money. Our Laurie and Eldon real estate offices have some incredible choices for you to choose from. Here are a few reasons why buying a home now instead of waiting is a good idea.
Home prices are predicted to rise.
Home prices have been appreciating over the past year, and predictions state that they will continue to rise, possibly at a rate of 5.2% in the coming twelve months. Over the next five years, they are expected to keep rising by more than 3% a year.
Interest rates on mortgages are expected to increase.
Mortgage rates have been their lowest over the past year, but they are now starting to rise slowly. This coming year, expect rates to be higher than they are now. When interest rates are higher, your monthly mortgage payments will be too. The longer you wait to buy a your new home, the more you will end up paying.
It's cheaper to own than to rent.
There is high demand for rental properties in most areas, but not always a lot of empty units. This is allowing property owners to increase the amount of rent that they are asking for. When you pay your monthly rent, you are actually paying the owner's mortgage payment, and possibly more. In the long run, it is in your best interest to put that rent money towards owning a home of your own.
There is less competition for homes.
Many potential buyers put off looking for a new home until the spring. The weather is usually more pleasant and the search seems easier. Real estate agents encourage sellers to put their homes on the market in the winter. More homes and fewer buyers means that you may find the perfect place before others get a chance to see it.
If you are ready, now is a good time to buy.
There are many benefits to owning a home. The biggest reason that buying right now is a good idea is the fact that both housing prices and mortgage rates are on the rise. A purchase sooner rather than later could save you a lot of money. Having fewer buyers looking this time of year means less competition for your perfect home too.
These are all excellent reasons to at least get out there and start looking. Give our mid-Missouri real estate agency a call and let us help you with your search. We will match up your wishes to the home that you are searching for.
Home prices are predicted to rise.
Home prices have been appreciating over the past year, and predictions state that they will continue to rise, possibly at a rate of 5.2% in the coming twelve months. Over the next five years, they are expected to keep rising by more than 3% a year.
Interest rates on mortgages are expected to increase.
Mortgage rates have been their lowest over the past year, but they are now starting to rise slowly. This coming year, expect rates to be higher than they are now. When interest rates are higher, your monthly mortgage payments will be too. The longer you wait to buy a your new home, the more you will end up paying.
It's cheaper to own than to rent.
There is high demand for rental properties in most areas, but not always a lot of empty units. This is allowing property owners to increase the amount of rent that they are asking for. When you pay your monthly rent, you are actually paying the owner's mortgage payment, and possibly more. In the long run, it is in your best interest to put that rent money towards owning a home of your own.
There is less competition for homes.
Many potential buyers put off looking for a new home until the spring. The weather is usually more pleasant and the search seems easier. Real estate agents encourage sellers to put their homes on the market in the winter. More homes and fewer buyers means that you may find the perfect place before others get a chance to see it.
If you are ready, now is a good time to buy.
There are many benefits to owning a home. The biggest reason that buying right now is a good idea is the fact that both housing prices and mortgage rates are on the rise. A purchase sooner rather than later could save you a lot of money. Having fewer buyers looking this time of year means less competition for your perfect home too.
These are all excellent reasons to at least get out there and start looking. Give our mid-Missouri real estate agency a call and let us help you with your search. We will match up your wishes to the home that you are searching for.
Devine & Associates Real Estate
Eldon office: (573) 392-9900
Laurie office: (573)207-8407
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