That is the question of the day, and here are some considerations that might influence your answer.
- The Cost of Waiting to Buy is defined as the additional funds it would take to buy a home if prices & interest rates were to increase over a period of time.
- Freddie Mac predicts interest rates to rise to 4.8% by next year.
- CoreLogic predicts home prices to appreciate by 5.3% over the next 12 months.
- If you are ready and willing to buy your dream home, find out if you are able to! There may not be a better time for you than now…
Look at the grahic above, and then calculate YOUR cost. Remember that while the national average increase in home prices is projected at 5.3%, the values of homes in North Kitsap have been rising at an even greater rate (20% in Poulsbo in the past 12 months alone!). Do you have questions? Feel free to let me know – I am always here to help!