Real Estate November 17, 2022

Is Now The Right Time To Buy?

With rates higher than last year, are you hesitant to buy? Take a look at the Pros/Cons of buying in each year, and the 10 year cost of buying this year at market price with a higher rate to overpaying last year (like buyers had to do to compete) with a lower rate- the numbers may surprise you!

2021 Pros: Low Interest Rates

          Cons: Competitive, paying OVER list price, MORE cash upfront

2022 Pros: Less Competitive, Paying LIST price, Less cash upfront

          Cons: Higher interest rates 

If you check out the image above, the total 10 year cost, you’re actually saving more money in 2022 than you would have in 2021. I’d say NOW is the perfect time to buy!