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A few weeks ago, one of my clients asked, “Is waiting to buy a new home actually costing me money?
The answer is absolutely yes. The reality is that prices are appreciating in every single market across the nation. If you are a buyer and wait to buy a home, then homes will be more expensive when you finally enter the market. Waiting will cost you more.
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Interest rates will go up and so will prices, so buy now.
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Not only that, interest rates will go up this year. If the Fed increases rates by just 1%, then home prices would have to go down by 10% in order for your mortgage payment to remain the same. Prices simply will not go down by that much anytime soon.
So, waiting to buy a home will cost you money. If you have any other questions about your specific situation or if you would like to learn more, give me a call or send me an email. I would be happy to help you!
