2019 Can Cost You Thousands
“I’ll hold off buying a home until next year.” If you’ve thought of purchasing a home, but don’t want to deal with the process now, you’ve probably had this thought cross your mind a time or two. Let’s look at how 2019 can cost you thousands of dollars while you wait to buy a home.
It is a pretty common tendency to hold off things on our to-do list, especially the ones that seem like a lot of work. But would you hold off the task, if I told you that waiting could make a difference of ten’s of thousands of dollars? Meaning it could cost you a $10,000-$50,000 (or more) difference to get the home you want today, in 2019’s market.
What Is Predicted
It’s anticipated, by the national historical trend report, that homes are on the rise by over 5% each year. That house you’ve been eyeing online, listed for $225,000, could be listed next year for $236,250. That is over $10,000 more just for waiting till 2019. This isn’t even bringing into question the rising APR rates for mortgages, that can increase your monthly payment amount on a home pretty significantly, as well. As well, when you are paying a mortgage there could be some tax breaks for you, which I recommend you discuss with your tax advisor as to your particular situation.
You Don’t Qualify For A Home Loan
Are you sure about that? Over the years I’ve had many clients call and say they don’t qualify for a home loan, yet when I ask if they have spoken to a lender, they answer no. Until you’ve spoken with a lending professional, you will have no idea whether you qualify for a home loan. There are so many loan programs out there, each with their own set of qualifications, that an experienced loan officer will be able to navigate that path with you. I’ve referred clients who were 100% positive they wouldn’t qualify for a loan, and within 48-72 hours, the loan officer is sending me a PQF (Pre-Qualification Form) advising the client is ready to head out to house hunt. I’ve taken clients who have been paying rent for years, taking them out and finding their perfect home, and they have ended up with a monthly mortgage payment that is less than they were paying in rent, with twice the space or more they did have and a yard to go with it.
The Home Buying Process Is Too Overwhelming
I get it, the home buying process can seem pretty intimidating. But with an experienced agent on your side, it can actually go pretty smoothly. Let’s get in touch. It won’t hurt to connect you with one of the lenders I have worked with, have them run the numbers through to see what you qualify for and if you don’t qualify, what things they recommend working on with you to work towards the pre-qualification.
The right time is always right now and I want to help you save the money you deserve to keep, by avoiding the wait as home and interest rates rise.
If you or someone you know is in need of real estate services, please let me know!