Thinking Of Buying Soon

Dated: 07/14/2017

Views: 20

Real Estate Corner…


Q.I’m thinking about purchasing a home. What should I know before buying?


A.If you’re thinking of investing in a house now or wondering whether you should wait, here are three important things to consider:


1.Renting vs. Buying.  If you rent a home, it could cost you less each month...and you might have more money to invest in other endeavors.  But if you put your money in a low-interest money market fund, generally you will not earn as much as if you had invested your money in a house.  


2.Housing Prices and Interest Rates.  You may be waiting for the housing prices in your area to fall.  They may not.  However, usually when they do, the interest rates will be higher.  The amount you gain could be significantly less over the long-term cost of the mortgage. Therefore, waiting may not be in your best financial interest.


3.The Break-Even Point.  The average break-even point for buying and selling a house is five to seven years.  If you plan to move before then you may want to seek professional advice before purchasing property if you want to realize a profit on your investment.


If you are in the market for a buying or selling a home and need competent and caring representation, please call me at 850-687-9989.


Latest Blog Posts

Why 5 Percent Mortgage Rates Are Not A Threat

June 19, 2018Mortgage rates are on the rise. Could that derail sales? According to First American’s Potential Home Sales model, even if the 30-year fixed-rate mortgage rose to 5 percent, the

Read More

Housing Boom Is Back But Without The Bubble

America’s housing market is booming with home prices nationwide now back to where they were a decade ago, just before the financial crisis.But that rise in prices does not mean we’re about to

Read More

Builder Confidence Slips As Lumber Prices Soar

WASHINGTON – June 18, 2018 – Builder confidence in the market for newly-built single-family homes fell two points to 68 in June on the National Association of Home Builders (NAHB)/Wells Fargo

Read More

Housing Starts Hit Post Recession High Challenges Ahead

US housing starts gained 5% in May but builders face challenging conditions to try to meet market demand.The figures from the HUD and Commerce Dept. show a seasonally adjusted annual rate of 1.35

Read More