Is there a cost of waiting to buy real estate with these interest rates?

The news about interest rates is everywhere. I wanted to share some important insights that could shape your path to buying or selling your next home. The current uptick in mortgage interest rates might seem like a challenge, but it brings along unforeseen advantages for buyers.

1. Lower Housing Prices: 

As interest rates rise, competition for homes is easing. This is a welcome change from the recent frenzied market.

2. Increased Choices: 

With the market cooling we anticipate more homes becoming available. You’ll have a wider selection to choose from, ensuring you find a home that truly suits your needs.

3. Enhanced Buyer Protection: 

Contingencies like inspections and appraisals are regaining importance. This safeguards your investment by providing a clearer understanding of the property’s condition and value.

While higher interest rates impact short-term affordability, they create a healthier market. Don’t be deterred by sensationalized headlines – experts don’t predict a market crash, just a recalibration.  See the cost of waiting infographic below to show what may happen in 5 years.  You know your situation best and if it makes sense, let’ find the home you have been thinking about now.

I’m here to guide you through these market shifts. Let’s explore how you can leverage these changes for your advantage. Your dream home awaits – let’s make it a reality. If you are wondering what kind of financing opportunities are out there check out my blog Homeownership Can Be Within Reach, detailing some loan options that might be available to you.

Cost of Waiting to Buy