<h1>4 Reasons to Buy a Home This Winter!</h1>
Buyer confidence and high demand remain strong in Westchester County while our local home inventory remains historically low. Purchasing a home is one of the largest financial decisions most will make in their lifetime. This blog’s main purpose is to help educate the consumer on the real estate process and to provide up-to-date information on our local market conditions.
Today I would like to talk to you about Buying a Home in the Winter Season
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.
<h1 style="text-align: center;"><strong>Things to Consider When Buying a Home</strong></h1>
Winter 2018 Edition
<img src="https://westchesterhomeadvisor.com/wp-content/uploads/2017/12/BuyerGuidewinter2018.png" alt="BuyerGuidewinter2018" itemprop="image" height="447" width="697" />
- What’s Happening In The Housing Market
- What You Need to Know BEFORE You Buy
- What to Expect When Buying A Home
To assure that you make the best possible decisions, it’s important that you have a knowledgeable agent on your side who is an expert in the local real estate market. Our goal is to provide you with as much information as needed to make well-informed decisions throughout your home purchase or home sale in Westchester County, New York.
To reach Ralph, please call (or text) 914-202-1101 or send an email to Ralph@WestchesterHomeAdvisor.com