3 Important Reasons To Buy Now!

DSC_0109Are you sitting on the fence not sure whether to buy now or wait for a couple of years until the economy is more stable?  Here are three very important reasons why now is the time to buy.

Prices Will Continue To Rise Over The Next 5 Years

The recent Home Price Expectation Survey publishes opinions of over 100 economists, investment strategists and housing market analysts.  The poll projects appreciation in home values over the next five years to be between 12.3% and 32.8%.

If you were waiting for the bottom of the housing market it has come and gone.  Home values will continue to increase over the next few years.  Waiting for a better deal no longer makes sense.

Mortgage Interest Rates Are Increasing

Freddie Mac recently reported interest rates for 30 year fixed rate mortgages have risen about one percentage point over the lows we have enjoyed in the last few years.  The National Association of Realtors, the Mortage Bankers Association, Freddie Mac and Fannie Mae have all projected 30 year fixed mortgage interest rates will increase to between 4.8 and 5.1% by this time next year.

Any increase in mortgage interest rate will affect your ability to buy a home by increasing your monthly payment.  Your mortgage payment is guaranteed to be more next year than it would if you purchased now.

It Is Time To Move On With Your Life

Your mortgage payment and cost of living in your home is determined by the price of the home you buy and the interest rate for your mortgage.  Both are going to increase in the next year reducing your buying power.

But, if prices remained the same and mortgage rates didn’t increase would it still be wise to wait to purchase your new home?  Now is the time to get settled in a permanent home where you can raise your children or enjoy your retirement years.  Permanence of a home is a wonderful stress free addition to your life.  Do your own renovations and take care of your own property rather than your landlords.

If now is the right time for you and your family to buy a home in Naples Florida, call me at 239-601-3174 and let’s start looking for the home of your dreams.  Prices are rising but there are still some great real estate deals to be had in the Naples area and I can help you find them.

Remember, it is always toasty in Naples and you deserve your piece of Naples sunshine!

 

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