How Smart Is It to Buy a Home Today

March 9th, 2021

Whether you’re buying your first home or selling your current house, if your needs are changing and you think you need to move, the decision can be complicated. You may have to take personal or professional considerations into account, and only you can judge what impact those factors should have on your desire to move. However, there’s one category that provides a simple answer. When deciding to buy now or wait until next year, the financial aspect of the purchase is easy to evaluate. You just need to ask yourself two questions:

1. Do I think home values will be higher a year from now?
2. Do I think mortgage rates will be higher a year from now?

From a purely financial standpoint, if the answer is ‘yes’ to either question, you should strongly consider buying now. If the answer to both questions is ‘yes,’ you should definitely buy now. Nobody can guarantee what home values or mortgage rates will be by the end of this year. The experts, however, seem certain the answer to both questions above is a resounding ‘yes.’ Mortgage rates are expected to rise and home values are expected to appreciate rather nicely.

There are many things to consider when buying a home. However, froma purely financial aspect, if you find a home that meets your needs, buyer now makes much more sense than buying next year. A Wallick & Volk Mortgage Advisor can answer all your questions and help you with financing of your new home. http://wvmb.com.

Source: www.KeepingCurrentMatters.com