Wednesday, January 22, 2014

The Cost of Waiting to Buy (Infographic)

Did you wait to buy a place? According to our friends and collaborators at Keeping Current Matters, here is the impact it had on your monthly payment:

As you can see, waiting a year had a relatively significant impact on the affordability of your home.  Mortgage interest rates accompanied by a rise in the in the average price of a home have been shown to add approximately $200+ to your monthly payment, only a year down the road.

In July we told you that Waiting to buy Could Be Costly.
In August we told you to Buy Now Not Later.
In September we told you Waiting for Interest Rates to Come Down Could be Costly.

And now, we expect this trend to continue for 2013-2014, in the face of mortgage rates continuing to rise due to the Fed's 2014 stimulus package cutback.

Will you buy now, or will you wait?

Unsure where to begin?  Need guidance based on your specific circumstance?  Don't hesitate to send me an email or give me a call, and I'll be happy to help.

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