• Skip to content
  • Skip to primary sidebar

Realty Solutions Group

Service Beyond Expectations

SearchClose

What If I Wait Until Next Year to Buy a Home?

What If I Wait Until Next Year to Buy a Home? | Simplifying The Market

We recently shared that national home prices have increased by 6.7% year-over-year. Over that same time period, interest rates have remained historically low which has allowed many buyers to enter the market.

As a seller, you will likely be most concerned about ‘short-term price’ – where home values are headed over the next six months. As a buyer, however, you must not be concerned about price, but instead about the ‘long-term cost’ of the home.

The Mortgage Bankers Association (MBA), Freddie Mac, and Fannie Mae all project that mortgage interest rates will increase by this time next year. According to CoreLogic’s most recent Home Price Index Report, home prices will appreciate by 5.2% over the next 12 months.

What Does This Mean as a Buyer?

If home prices appreciate by 5.2% over the next twelve months as predicted by CoreLogic, here is a simple demonstration of the impact that an increase in interest rate would have on the mortgage payment of a home selling for approximately $250,000 today:

What If I Wait Until Next Year to Buy a Home? | Simplifying The Market

Bottom Line

If buying a home is in your plan for this year, doing it sooner rather than later could save you thousands of dollars over the terms of your loan.

Realty Solutions Group was built around a simple but elusive concept: provide brokers and clients with the highest level of service in the industry through cutting-edge sales, marketing programs and a culture that values innovation, relationships and a strong local focus.

In less than 5 years, Realty Solutions Group is among the top independent brokerage firms in S/E Wisconsin.

As a locally-owned, independent company, Realty Solutions Group is deeply committed to supporting the communities and clients we serve. We are constantly evolving, but remain focused on that one simple idea behind our founding.

We are a full service brokerage with discounted commissions. We offer no long term listing contracts, a Performance Guarantee, Smart Seller Program and a Communication Guarantee. Contact us today and let us provide you with the very best real estate experience.

Powered by WPeMatico

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Post navigation

« 3 Tips for Making Your Dream of Owning a Home a Reality [INFOGRAPHIC]
New Study Shows ‘Best States for Millennials’ »
Search for:

Recent Posts

  • Owning a Home Is Still More Affordable Than Renting One January 20, 2021
  • Should I Wait for Lower Mortgage Interest Rates? January 19, 2021
  • How to Make the Dream of Homeownership a Reality This Year January 18, 2021
  • Things to Avoid after Applying for a Mortgage [INFOGRAPHIC] January 15, 2021
  • Why Right Now May Be the Time to Sell Your House January 14, 2021

Recent Comments

    Archives

    • January 2021
    • March 2020
    • February 2020
    • January 2020
    • December 2019
    • November 2019
    • October 2019
    • September 2019
    • August 2019
    • March 2019
    • February 2019
    • January 2019
    • December 2018
    • November 2018
    • October 2018
    • July 2018
    • June 2018
    • May 2018
    • April 2018
    • March 2018
    • February 2018
    • January 2018
    • December 2017
    • November 2017
    • October 2017
    • September 2017
    • August 2017
    • July 2017
    • June 2017
    • May 2017
    • April 2017
    • March 2017
    • February 2017
    • January 2017
    • December 2016
    • February 2016
    • 0

    Categories

    • Buying Myths
    • Demographics
    • Distressed Properties
    • Down Payments
    • First Time Home Buyers
    • For Buyers
    • For Sellers
    • Foreclosures
    • FSBOs
    • Holidays
    • Housing Market Updates
    • Infographics
    • Interest Rates
    • Move-Up Buyers
    • Pricing
    • Rent vs. Buy
    • Selling Myths
    • Short Sales
    • Time-sensitive
    • Uncategorized

    Meta

    • Log in
    • Entries feed
    • Comments feed
    • WordPress.org