The Cost of Waiting When Buying a Home
This info-graphic came across my desk today and it shows just how much money you would have saved per month if you decided to buy a home sooner than later! If you are waiting for prices to go down before you buy a home, then you might be waiting a long time because all signs point to home prices and rates increasing, not decreasing! If you are in the market to purchase a home, let me help you find something today so you can save as much money as possible! If you wait to long, the cost of waiting might price you out of your dream home. As you can see from the graphic above, rates in November of 2013 were around 3.32%. Fast forward a year later to November of 2013 and you will see that the interest rate rose to 4.29% while the average home price also went up to $244,500 from $227,900 from the previous year. All this amounts to is a significant monthly payment increase of $207.92! Wouldn’t you rather have that extra $207.92 each month to spend on other things? Call me today to see how you can save money by purchasing now rather than later! Thanks to Tom DiDonato from Tidelands Bank for the infographic!