Today I have three questions for buyers who think they might want to wait until next year to list their home:
1. Why do you need to buy? Are expecting a new addition to the family? Have you just outgrown the place that you’re currently at? Is rent too high? Does buying make sense?
2. What are home prices currently like, and where is the price headed? Are they going up? If you look at home prices this year compared to last year, they’ve increased between 5% to 10%. The prices are projected to increase for another year, so if you’re waiting until next year to start looking a few home, the property you’ve had your eye on might be more expensive.
3. How are the mortgage rates right now?These rates are projected to continue to rise, and if you wait until next year to lock in that rate, you might find you have less buying power than if you started looking now.
If you’re indecisive and you’re still sitting on the fence about whether to buy or wait, hopefully considering these questions will help you made a better decision for you and your family.
If you have any additional questions or you’re looking to buy or sell a home, please give us a call. We’d be happy to help.