Kathy Sullivan Homes

4 Reasons To Buy a Home This Fall

4 Reasons to Buy a Home This Fall! | Simplifying The Market

Here 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 6.7% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 5.0% over the next year.

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 hovered around 4%. 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 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 purchasing a home for you and your family is the right thing for you to do this year, buying sooner rather than later could lead to substantial savings.

Posted on September 29, 2017 at 4:19 pm by Kathy Sullivan

  • Reviews

    5user6245112

    Kathy Sullivan worked non-stop to help sell my parents home. The home is located on a very busy street and so many buyers thought it to be not a great location to raise a family even thought the house had a lot to offer. Adding to the difficulty was a down... (more)

    5user3716768

    I was very fortunate to have Kathy as my listing broker. She is the real deal. I give her my highest recommendation. As most of you know, selling or buying real estate is a very difficult process. This sale was no exception but Kathy got me through this with... (more)

    5user893544

    Kathy just recently helped us with the purchase of our first home. We looked for a while and had no idea what we wanted (although even we didn't know that at the time). Kathy helped us focus on what was really important for us in a new home. We ended up in... (more)

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