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You are here: Home / Buying a Home / 217,726 Reasons to Buy a Home Now

217,726 Reasons to Buy a Home Now

June 1, 2013 By Andi Leave a Comment

Cost of Waiting to Buy
The Cost of Waiting to Buy

The inaugural Opportunity Cost Report was released recently by realtor.com. The report explained that “with interest rates and home prices expected to climb in the next year, the financial penalties of delaying or forgoing a home purchase in today’s market have become very steep”.

The report estimates that, based on today’s dollars, the average purchaser would accumulate $217,726 in increased wealth over a 30-year period.

 

What could this mean to someone sitting on the fence waiting to buy?

Experts believe that both home prices and mortgage interest rates will increase over the next twelve months. Obviously, if this does happen, the monthly cost of a home a year from now will be dramatically higher than it is today.

 

The Opportunity Cost Report breaks down exactly how much a purchaser could lose over increments of one year and three years.

The results based on an average purchaser in the U.S. delaying their purchase are on the right.

 

Bottom Line

If you are ready, willing and able to buy a home, waiting doesn’t make sense.

 

Filed Under: Buying a Home Tagged With: Images Right

About Andi

World-wide traveler. Excellent shot. Lover of Cairn Terriers (specifically Shaymus). Vegetarian. Enthusiastic, yet amateur beer brewer. Licensed, independent Real Estate Broker and Designated Broker for Sterling Real Estate. I have the inside knowledge of the 'diamonds in the rough' hiding throughout Whatcom County. Want to learn more? Contact me at AndiDyer@gmail.com

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About Andi

World-wide traveler. Excellent shot. Lover of Cairn Terriers (specifically Shaymus). Vegetarian. Enthusiastic, yet amateur beer brewer. Licensed, independent Real Estate Broker and Designated Broker for Sterling Real Estate. I have the inside knowledge of the 'diamonds in the rough' hiding throughout Whatcom County. Want to learn more? Contact me at AndiDyer@gmail.com Read More…

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