Inventory is at an all time low in the Greater Clear Lake area but that doesn’t mean you shouldn’t try and buy now. According to the inaugural Opportunity Cost Report released recently by Realtor.com interest rates are expected to rise along with home prices (low inventory next year will only make prices higher). Thus, the financial penalty of delaying or forgoing purchasing a home can become significant. In fact, the report estimates that, based on today’s dollars, the average purchaser would accumulate $217,726 in increased wealth over a 30-year period.
Even waiting a year can mean over an $18,000 dollar difference in cost on average, three years over $54,000! So if you are ready, willing and able to buy a home, waiting doesn’t make “cents“. Contact the Monica Foster Team and we can help you find just the right home today!
Images credit: http://www.keepingcurrentmatters.com/2015/06/10/217726-reasons-to-buy-a-home-now/ and http://www.keepingcurrentmatters.com/2015/06/08/where-will-mortgage-rates-be-in-12-months/