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Home / News / Cost of Waiting to Buy a Home

06.02.20 Home Buyer Tips, News

Cost of Waiting to Buy a Home

If you’re shopping for a home today, you know it’s kind of hard work. You might not find something right away and it’s easy to get fatigued. Sometimes buyers get discouraged and say, “Let me take off a few months, maybe I’ll come back 6 months later.”

Here’s the thing: while you can take some time off, the market isn’t taking time off! And it’s hot right now! Middlesex County, for example, has a predicted appreciation of 0.9% in just the next 6 months; let’s quantify that.

A home worth $563,000 today would be worth $5,300 more in 6 months. Additionally, if you were planning on putting the same percent down, you would have to borrow more because the home is more expensive. And how about interest rates? Even though rates are at very attractive levels, does it make sense to wait for rates to go down further?

No, the monthly savings with a lower rate are nice but are dwarfed by the missed appreciation and amortization, and it would take many, many years to recoup what you would have lost. Should rates drop significantly, we can always refinance you in the future. Stick with it, keep shopping, and you will find something!

For an appreciation analysis of other counties in Massachusetts and New Hampshire, please contact me.

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Chris Graves

I grew up in Massachusetts, spent the majority of my young adult life in Boston, and own a home in Windham NH. I have owned properties in MA and NH. I specialize in mortgage lending in Massachusetts and New Hampshire and my company does have the ability to lend in other states. I graduated from the University of Massachusetts in Amherst Massachusetts in 2002. I have a Bachelor’s in Science. In addition to managing a team of loan officers my personal loan production is always in the top of the entire of company. I have personally been in the mortgage business for over 13 years. I pride myself with taking my clients from application to close in the smoothest and quickest way possible, while keeping them well informed during the entire process. I originate my own loans from start to finish and work hand in hand with my loan processors & underwriters to make sure I am updated to the minute with all of my files. I stay up to date with lending guidelines and speak with underwriters on a daily basis to ensure I am aware of all of the lending guidelines in place.

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Chris Graves, Certified Mortgage Advisor

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Direct/Mobile: 978-376-5389

25 Indian Rock Road Ste 21
Windham, NH, 03087
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Topics

  • Local Information (56)
  • Misc Topics (13)
  • Mortgage Information (109)
  • News (21)
  • Real Estate Information (167)
    • Featured Properties (2)
    • Home Buyer Tips (125)
    • Home Maintenance & Repair (12)
    • Home Seller Tips (38)
    • Market Trends (17)

Disclosure

Company NMLS 1788.
Licensed by the New Hampshire Banking Department #13092-MB.
Licensed in Massachusetts.
Licensed in Maine.
Lender and Broker License #MC-1788.
http://www.nmlsconsumeraccess.org
Click Here for Our Privacy Policy

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