You might be having doubts about being one of those brave house hunters out in the rain, sleet or snow to find your perfect home in the winter months. Here are a few reasons why you shouldn't put off your home search until the spring:
- Prices will continue to rise. A recent report shows that home prices have appreciated by over 6% this year, and will continue to rise over the next year. Waiting no longer makes sense!
- Interest rates are projected to increase. Current rates are just over 4%, and it is predicted that over the next year, those rates will rise; impacting the mortgage payment on your next home.
- Either way, you're already paying a mortgage. If you haven't purchased a home because you're afraid to take on the obligation of paying a mortgage, know that unless you're living rent free, you're already paying a mortgage: your landlord's.
- Because you want to own a home. The cost of a home is determined by the price of the home as well as the current interest rate, and both are on the rise. Now is the time to look at the reasons you've been waiting to buy to determine if it makes sense to put it off any longer.
Are you thinking of buying a home soon? Contact us to get started!