We often talk about the potential cost of waiting to buy a home. Today, we want to look at the actual cost for someone who waited over the last year. We used a 10% increase in house values as prices have gone up by double digits in the country on average. We looked at approximate mortgage rates last year compared to this year. Here is the impact on a monthly mortgage payment (principal and interest):
It's time to buy now! Home values will continue to rise and interest rates are unpredictable right now (but going up). If you're ready to start your home search, call us!