The Cost of Waiting Until Next Year to Buy a Home

    What Is the Cost of Waiting Until Next Year to Buy? [INFOGRAPHIC] | MyKCM

    Highlights:

    • The “cost of waiting to buy” is defined as the additional funds necessary to buy a home if prices and interest rates were to increase over a period of time.
      • If you buy now at 3.6% at a home price of $250,000 your principal and interest payment will be $1,136.61/month on a 30-year mortgage. If you wait a year to buy, rising house costs and interest rates could drive the house cost to $263,500 and the rate to 3.8%, bringing the same 30-year mortgage to $1,227.80/month.
    • Freddie Mac forecasts interest rates will rise to 3.8% by Q4 2020.
    • CoreLogic predicts home prices will appreciate by 5.4% over the next 12 months.
    • If you’re ready and willing to buy your dream home, now is a great time to buy. Contact your Collins Group Realty Buyer Specialist for help.

    Trackback from your site.

    Leave a Reply