People always ask me, “Should I buy now?!” My answer is always, “YES.” There are several reasons but to name a few…
A 1% increase in interest rate decreases your buying power by 10% to get the SAME payment!
Buying is 38% cheaper than renting, nationwide, and buying is cheaper than renting in all of the 100 largest metros. In our local area, it is consistently 20-40% less expensive to buy than rent.
You are locking in your monthly payment for the term of your loan. This means no inflation in rents. Historically, these have always trended upwards each year.
Housing prices continue to go up. This means that the $300,000 house that you are looking at today could cost $315,000 next year at this same time.
Don’t believe me? Here is an illustration of average home sales prices in the Raleigh/Wake County area. By waiting, the last two years at the same price is now costing you $200 more a month!
One more reason, as if you needed another one 😉, people that own homes have a much higher net worth than your fellow counterparts that are renting.
All this information has got you thinking, hasn’t it?! Feel free to give me a call at 919-877-6708 or shoot me an email to Renee@HREGSells.com to set up a no-obligation buyer consultation at no cost to you. It will be the best hour you spend and I can promise you that!