Advantage - Jim Whittaker
Create a free HomeFinder Account    Login   |    Register
Welcome!    HomeFinder   |    Log Out
  • Search For Properties
    • Start Search Here
    • Featured Properties
  • Buy A Home
    • Foreclosures Free List Mobile Friendly
    • Our Guarantee
  • Sell Your Home
    • Your Home Sold In 39 Days Guarantee!
  • Explore Places to Live
  • Advice & Tools
    • Real Estate Tips
    • The Homeowner’s Advice Blog
    • What’s My Home Worth?
    • Loan Calculator
    • My Homefinder
  • About Me
    • My Profile
    • What My Clients Say
    • Contact Me
Home > buy a home > Why Should You Buy A Home This Summer?

Why Should You Buy A Home This Summer?

buying a home costHere are four great reasons to consider buying a home today instead of waiting.

1. Prices Will Continue to Rise

CoreLogic’s latest Home Price Insights reports that home prices have appreciated by 7% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 5.2% over the next year.

Home values will continue to appreciate for years. Waiting no longer makes sense.

Why Should You Buy A Home This Summer?

2. Mortgage Interest Rates Are Projected to Increase

TIP! When you are looking into real estate, understand that this could be your home for a long time. You may be child free now, but sometimes people change their minds.

Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year mortgage have increased by half a percentage point already in 2018 to around 4.5%. Most experts predict that rates will rise over the next 12 months. The Mortgage Bankers Association, Fannie Mae, Freddie Mac and the National Association of Realtors are in unison, projecting that rates will increase by nearly a full percentage point by this time next year.

An increase in rates will impact YOUR monthly mortgage payment. A year from now, your housing expense will increase if a mortgage is necessary to buy your next home.

3. Either Way, You Are Paying a Mortgage

There are some renters who have not yet purchased a home because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s.

TIP! A buyer’s checklist will help you understand the real estate buying process, and these forms can be acquired from your Realtor. Realtors usually have a list that you can go over to ensure that you take care of all necessary things when you are looking for a home and trying to finalize the mortgage.

Why Should You Buy A Home This Summer?

As an owner, your mortgage payment is a form of ‘forced savings’ that allows you to have equity in your home that you can tap into later in life. As a renter, you guarantee your landlord is the person with that equity.

Are you ready to put your housing cost to work for you?

4. It’s Time to Move on with Your Life

The ‘cost’ of a home is determined by two major components: the price of the home and the current mortgage rate. It appears that both are on the rise.

But what if they weren’t? Would you wait?

Look at the actual reason you are buying and decide if it is worth waiting. Whether you want to have a great place for your children to working with a real estate agentgrow up, you want your family to be safer, or you just want to have control over renovations, maybe now is the time to buy.

If the right thing for you and your family is to purchase a home this year, buying a home sooner rather than later could lead to substantial savings.

Get the ball rolling, after all there is no cost or obligation to get pre-qualified for a home mortgage and to get all of your questions answered, so call Jim today at 605-858-0775, you’ll be glad you did.

Have a Question?

Fields marked with an * are required

Recent Blog Posts

What Agents Consider When Pricing Your Home

Rapid City homes under 200k

Debunking Mortgage Myths

Is It Really Cheaper To Buy A Home Than To Rent?

Rapid City Homes Under 250k

Check out our latest Twitter Post

Tweets by jim_whittaker

Jim Whittaker

Rapid City Real Estate Agent

Jim-Whittaker

Broker Associate

Welcome to Rapid City SD

Contact Info

RE/MAX Advantage
1331 W Omaha St Suite 200
Rapid City, SD 57701

Phone Numbers
Direct: 605-858-0775

Contact Me

Connect With Me

Directions from Rapid City Regional Airport – RAP

Find Me on Facebook

Facebook Pagelike Widget

Directions From South Dakota School Of Mines

Each RE/MAX® Office is Independently Owned and Operated. Equal Housing Opportunity. It is illegal to discriminate against any person because of race, color, religion, gender, handicap, familial status, or national origin.
engageRE is a trademark of real.leads Inc. All other trademarks are the property of their respective owners.
Site Powered by engageRE | © 2019 real.leads, inc. | Select images used with permission - © Can Stock Photo | WordPress Access | Agent Portal