Is it a good time to buy a home? That's the question many prospective buyers are pondering. The decision to take the plunge into homeownership is a significant one, influenced by various factors ranging from personal finances to market trends.
If you find yourself in this position, weighing the options of whether to buy now or wait, consider the following insights that might just sway you towards the "buy now" camp.
What lies ahead for home prices? According to the Home Price Expectations Survey (HPES) conducted by Fannie Mae and Pulsenomics, the consensus among over 100 experts is clear: home prices are on an upward trajectory for the next half-decade.
Even though the rate of appreciation may taper slightly in the coming years, the cumulative effect remains substantial.
Consider this: if your home's value rises by 3.78% this year, it's poised to continue appreciating by 3.36% the following year, and so forth.
It translates to confidence in your investment. Buying a home now means acquiring an asset projected to appreciate steadily in the years to come, bolstering your financial portfolio.
Let's delve into the numbers for a clearer picture.
Take, for instance, a hypothetical home purchased for $200,000 at the beginning of the year. Based on expert projections, this investment could yield an increase in household wealth exceeding $37,000 over the subsequent five years as the property appreciates.
Of course, you could opt to delay your home purchase, but doing so might come at a cost. With prices slated to continue their ascent, waiting might mean shelling out more down the line.
With home values on an upward trajectory, purchasing now not only secures a place to call your own but also positions you to reap the benefits of a growing asset.
Ready to embark on this journey? Consider teaming up with us, your local mortgage pro, to explore your options and kickstart your quest for homeownership today. The future looks bright, and there's no better time to turn your homeownership dreams into reality.
We've been helping customers afford the home of their dreams for many years and we love what we do.
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This is not an offer to enter into an agreement. This is not a commitment to make a loan. Not all customers will qualify. Information, rates and programs are subject to change without prior notice. All products are subject to credit and property approval. All approvals are subject to underwriting guidelines. Not all products are available in all states or for all dollar amounts. Other restrictions and limitations may apply. VA loans subject to individual VA Entitlement amounts and eligibility, qualifying factors such as income and credit standards, and property limits. NEXA Mortgage, LLC is not affiliated with any government agencies .These materials are not from VA, HUD or FHA, and were not approved by VA, HUD or FHA, or any other government agency. Copyright © 2020 NEXA Mortgage, LLC NMLS#1660690. AZMB#0944059. 3100 West Ray Rd Ste 201 Chandler, AZ 85226,
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