Why Waiting to Buy a Home Might Be the Wrong Decision
December 09, 2021
Many buyers have decided to wait until next year to buy a home, hoping that the real estate market will be better for their purchase. Before making that decision, it's important to ask yourself where home price and interest rates will be next year. The major housing industry entities are projecting that prices will appreciate another 5-7 in 2022. Also, most experts believe that interest rates will rise a bit in 2022 as the economy recovers.
If both variables increase, you'll pay a lot more in your mortgage payment. Talk to a professional before you make the decision to wait, since the financial benefits make it clear that paying now is more advantageous than waiting.
