Local Buying Tips

Below are four great reasons to consider buying a home today instead of waiting.

1. Prices Will Continue to Rise
CoreLogic’s latest Home Price Index reports that home prices have appreciated by 6.8% over
the last 12 months. The same report predicts that prices will continue to increase at a rate of
5.1% over the next year. Rates are currently at historic lows.
The bottom in home prices has come and gone. Home values will continue to appreciate for
years. Waiting no longer makes sense.

2. Mortgage Interest Rates Are Projected to Increase
Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year
mortgage have already increased by half of a percentage point, to around 4.5%, in 2018.
Most experts predict that rates will rise over the next 12 months. The Mortgage Bankers
Association, Fannie Mae, Freddie Mac, and the National Association of Realtors are in unison,
projecting that rates will increase by half a percentage point by this time next year.
An increase in rates will impact YOUR monthly mortgage payment. A year from now, your
housing expense will increase if a mortgage is necessary to buy your next home.

3. Either Way, You Are Paying a Mortgage
There are some renters who have not yet purchased a home because they are uncomfortable
taking on the obligation of a mortgage. Everyone should realize that unless you are living
with your parents rent-free, you are paying a mortgage - either yours or your landlord’s.
As an owner, your mortgage payment is a form of ‘forced savings’ that allows you to have
equity in your home that you can tap into later in life. As a renter, you guarantee your
landlord is the person with that equity.
Are you ready to put your housing cost to work for you?

4. It’s Time to Move on with Your Life
The ‘cost’ of a home is determined by two major components: the price of the home and the
current mortgage rate. It appears that both are on the rise.
But what if they weren’t? Would you wait?
Look at the actual reason you are buying and decide if it is worth waiting. Whether you want
to have a great place for your children to grow up, you want your family to be safer, or you
just want to have control over renovations, maybe now is the time to buy.
If the right thing for you and your family is to purchase a home this year, buying sooner
rather than later could lead to substantial savings.

Call Our Buyers Information line at 832.553.8300, or start searching for a home for Free !


There are more homes for sale in our web site that the local MLS.