4 Reasons Why Summer Is A Great Time To Buy A Home

Dated: 06/04/2018

Views: 53

Image title

4 Reasons Why Summer Is a Great Time to Buy a Home!

   First Time Home Buyers, For Buyers, Move-Up Buyers

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 Insights reports that home prices have appreciated by 7% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 5.2% over the next year.

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 increased by half a percentage point already in 2018 to around 4.5%. 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 nearly a full 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 me or text me to get started. 210.338.0275


Blog author image

Charles Juarez

With my expertise in reality for both buying or selling a home in San Antonio, and surrounding areas. You have found the right resource for your real estate needs. Whether you are looking for a new ho....

Latest Blog Posts

How Your Texas REALTOR Can Keep You From Making Rookie Homebuyer Mistakes

How Your Texas REALTOR® Can Keep You From Making Rookie Homebuyer MistakesOctober 16, 2018, | TAR Staff Picture a home with a shady backyard overflowing with blooming flowers, chirping birds, and a

Read More

How The Housing Market Is Impacted By Natural Disasters

How the Housing Market is Impacted by Natural DisastersHow the Housing Market is Impacted by Natural DisastersOctober 18th, 2018Just like most other things, natural disasters can impact the housing

Read More

Is The Increase In Inventory A Bullish Or Bearish Sign For Real Estate

Is the Increase in Inventory a Bullish or Bearish Sign for Real Estate? Thursday, October 18th, 2018  First Time Home Buyers, For Buyers, Housing Market Updates, Move-Up

Read More

5 Tips For Starting Your Home Search

5 Tips for Starting Your Home Search Wednesday, October 17th, 2018  First Time Home Buyers, For BuyersIn today’s real estate market, with low inventory dominating the

Read More