4 Reasons To Buy This Winter

Dated: 01/02/2018

Views: 4



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 7.0% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 4.7% 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 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.

Blog author image

Kelly Krogmann

I joined the Kim Barber Group in 2015 bringing to the team my experience in customer service, office management, marketing, technology and working with buyers. Having worked with various small busines....

Latest Blog Posts

Home Buyer Series :: Pre-Approval vs Pre-Qualification

Are you thinking of buying a home soon and don't know what the heck is the first step is? And every time you talk to a real estate agent they throw around lingo you have no idea what it means and

Read More

2019 Summer Real Estate Market Update

SUMMER OF 2019 IS OFFICIALLY HERE!What does that mean for the Loudoun County real estate market? Is it a sellers or buyers market?Watch the video below to learn about this years market and what

Read More

How Will The Rising Interest Rates Affect You?

If you are thinking about buying or selling it is very important to pay attention to the current interest rates and know how they are going to affect you! When interest rates go

Read More

2017 First Quarter - Post Election Market Update

Looking to buy or sell in Loudoun & Fairfax counties this spring? Interest rates have gone up since the election in November and this is putting pressure on buyer's budgets.

Read More