Have you been sitting on the fence about buying a home? This article includes information about the cost of waiting.
According to Realtor.com’s 2019 National Housing Forecast, home prices and interest rates will increase again in 2019, as they did in 2018: https://www.realtor.com/research/2019-national-housing-forecast/
Here’s an excerpt from the article with details about what 2019 will be like for buyers:
“What will 2019 be like for buyers? Buying a home will be an even more expensive undertaking in 2019 as mortgage rates and home prices increase. Buyers who are able to stay in the market will find less competition as more buyers are priced out, but feel an increased sense of urgency to close before it gets even more expensive. Their largest struggle next year will be reconciling wants, needs and budget versus the heavy competition of 2018. Although the number of homes for sale is increasing, which is an improvement for buyers, the majority of new inventory is focused in the mid-to higher-end price tier, not entry-level. Rising mortgage rates and prices will keep a lot of new inventory out of their budget and make it especially tough for first time home buyers.”
This article from keepingcurrentmatters.com has data that shows that waiting one more year to buy a $250,000 home can cost you more than $50,000 extra over a 30 year span: https://www.keepingcurrentmatters.com/2018/12/10/what-if-i-wait-a-year-to-buy-a-home/
Whether you buy now or decide to wait, when you need to have documents notarized, contact Notary Near You.
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