Should I Wait Until Next Year to Buy a Home in Roseville? Or Buy Now? [INFOGRAPHIC]

Vicki Moore
Published on February 16, 2018

Should I Wait Until Next Year to Buy a Home in Roseville? Or Buy Now? [INFOGRAPHIC]


It isn’t always a good time to buy a home in Roseville. In fact, just because it’s a good time for your friends, family members or neighbors doesn’t mean it’s a good time for you. There are a lot of things to think about when you’re deciding whether or not to buy a home now or if you should wait.

You’re going to see a lot of advice online that now is a good time to buy; and there’s sound advice behind that.  It makes sense for a lot of people and may make sense for you too.

Interest rates will be going up this year and so will home prices.  When you buy a home, you’re actually buying a mortgage too.  The interest rate of that home mortgage will determine how much of a house you can buy.  The higher the interest rate, the less house you can afford.  In other words, you’ll be buying a smaller home, in a less desirable neighborhood or one that doesn’t have as many upgrades as you could afford at a lower interest rate.  A lower interest rate equals a lower house payment.

In this infographic, you can see that a 4.3% interest rate on a home costing $250,000 will cost you $1,237.18 per month.

If you wait until rates go to 5.1% – which is expected to happen in the next year – you’ll see that that $250,000 home will increase in value to $260,000 in the next year or so and end up costing you $1,415,74 per month instead of $1,237.18.

That works out to $178.56 per month – $2,142.72 per year – and $64,282 over the 30 year life of the loan!

If the house is $500,000 you’ll save $125,000 over 30 years.  Now that’s a ton of money!  That’s what waiting can cost you!

There are a lot of opportunities to buy a home in Roseville that you won’t find in other places.  Loans like zero down payment – payment assistance with the payments deferred or forgiven over a few years.  It doesn’t take much time and could save you a lot of money to make a phone call or two to find out if now is the right time for you to buy a home in Roseville.


Should I Wait until next Year to Buy? Or Buy Now? [INFOGRAPHIC] | Simplifying The Market


Some Highlights:

  • The “Cost of Waiting to Buy” refers to the additional funds it would take to buy a home if prices and interest rates were to increase over a period of time.
  • Freddie Mac predicts interest rates to rise to 5.1% by 2019.
  • CoreLogic predicts home prices to appreciate by 4.3% over the next 12 months.
  • If you are ready and willing to buy a home, now is a good time to find out if it’ll work for you.
Should I Wait Until Next Year to Buy a Home in Roseville? Or Buy Now? [INFOGRAPHIC]
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