Waiting To Buy A Home Could Cost You Thousands Of Dollars

Real_Estate With interest rates and home prices expected to increase in the next year, the financial penalty in waiting or forgoing in buying a home in today’s market have become very expensive according to a recent Realtor.com report.

The financial benefit to purchasing a home instead of renting is huge! According to Jonathan Smoke, the Chief Economist for Realtor.com, nationally, the estimated wealth an average buyer would accumulate over a 30-year period based on today’s dollars totals $217,726. Even with the upfront cost of purchasing a home, the average buyer will throw away $18,672 in in just one year. Delay purchasing a home for three years, and that figure skyrockets to $54,879.

“We’re at a critical juncture: Rents, home prices, and mortgage rates are all expected to rise significantly over the next several years,” Smoke says. “That means the cost of delaying homeownership will go up even more sharply, if you wait three years or even one.”

Why You Should Consider Purchasing Now

  • Build Equity Instead of Paying Rent
  • Homeownership Tax Benefits
  • Rent goes up but the monthly mortgage payment stays the same with a fixed rate mortgage

You may be in the perfect positon to purchase a home and potentially save BIG over the lifetime of your loan. Stop waiting, it’s time to get started! Contact me for more information on getting on the path to homeownership.

This material is provided for information and educational purposes only. On Q Financial, Inc. does not provide tax advice. Please consult your Tax Advisor or CPA before proceeding for further information regarding your eligibility. Property taxes and Homeowners Insurance are subject to change. Information obtained from www.prnewswire.com .

 

Real_Estate Written by Chris Johns

Mortgage Consultant

NMLS #: 85440 / WA # MLO-85440

2627 Parkmont Ln SW, Unit 101 Olympia, WA 98502

Cell: (360) 870-4253   Office: (360) 347-8000   Direct Fax: (360) 338-0580

chris.johns@onqfinancial.com     /    www.thejohnsteam.com

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Each member of the Rob Rice Homes family is a separate limited liability company or corporation. Each of the Rob Rice Homes communities is developed, constructed, sold and warranted by a separate limited liability company or corporation. Builder reserves the right to make changes to plans & specifications without notice. Features vary by plan. Buyer to verify square footage. Some photos used are artist rendering or virtually staged.