With the Economy in full up swing and homes appreciating 5+% a year for several years in a row my first thought is, No! After some deep digging into the numbers and looking at the concept through what investors like to call dollar cost averaging it does appear that now is as good a time to buy as any. Let me explain why. Troy Mannella is a leading provider of Mortgage Loans in Austin, Hutto and Round Rock Texas. For More information on Home Loans and how to Qualify fill out the quick quote on the right.
Understanding Fluctuating Interest Rates
Yes we are experiencing appreciation of 5+% but we are also experiencing inflation at or above 2% so the net increase is somewhere around 3%. With this also being said we are currently in a declining interest rate market at a home that costs 250 Thousand just a few months ago is roughly 80 dollars per month cheaper today than in the beginning of the year. With this being figured into the cost you are actually paying much less today and you are locking in the price/value of the home with today’s numbers and in 3 years from now the home you own will be worth more and you have paid less for it at the time of purchase through a lower monthly payment.
Now Is The Time To Buy A Home
When thinking of it this way it is actually a great time to buy a home now rather than waiting for a dip in the market that might or might not come in the next 3 years. We specialize in Home Financing for Home Buyers with all sorts of different scenarios. If you are looking to purchase a home in Austin, Hutto and Round Rock Texas give us a call at 512-795-5596 so we can discuss several of our financing programs.