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Can You Afford to Wait to Buy a Home?

Written by Posted On Monday, 19 December 2016 08:56
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Keller Williams
THE TIME TO BUY IS NOW
If you've been considering purchasing a new home, our research shows that putting off that decision any further could cost you. Here are a couple of key reasons that you should consider buying a home sooner rather than later:
Housing prices are healthy and growing. In fact, in 2015, prices increased 5.7 percent on average in the United States according to the S&P Case-Shiller U.S. National Home Price Index, and they're expected to continue on that trajectory. At this rate, a $200,000 home could cost you $211,400 next year and $223,450 in just two years.
Interest rates are still low. According to Freddie Mac, the average rate on a 30-year mortgage in 2015 was just 3.85 percent. If you had a $200,000 mortgage at this rate, your payment would be $938 a month. However, the Federal Reserve may raise rates in the near future. At 8.90 percent, which is the historical average interest rate, your payment would be $1,595. That's a potential increase of $657 a month!
Our commitment to supplying you with the relevant economic data you need is the key to finding your new home. Contact us today to begin your home search.
 

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Ryan Hardin REALTOR®/BROKER SRES

Keller Williams Realty Integrity NW
BROKER/REALTOR
763.441.2248
612.860.6177
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Copyright 2016 Keller Williams® Realty, Inc. If you have a brokerage relationship with another agency, this is not intended as a solicitation. All information deemed reliable but not guaranteed. Equal Opportunity Housing Provider. Each office is independently owned and operated. 
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Ryan Hardin

Partners Real Estate MN welcomes you to our comprehensive full service real estate firm.  Whether you are looking to Buy, Sell or Lease Residential or Commercial Real Estate in Minnesota, we are always here to help. Feel free to contact Partners Real Estate MN directly at 612-356-2002.

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For buyers there is detailed area and neighborhood information and a great listing search page. For sellers we provide information and great Multiple Listing Search page data to help you to ready your home for market and to list it with a Partner so it sells.

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