Milestone Germantown MD | 4 Reasons Why Summer Is a Great Time to Buy a Home!

 

At a local level in Germantown Maryland, buyer confidence remains strong with some changes that varies on the price level and whit type of houses they are looking for.     

Particularly in and around Milestone 20876 zip code. The addition of new store and business entities in the area makes Milestone one of the most busiest areas in Germantown.      

As you are aware, for most families, choosing a new home is the biggest financial decision they will ever make and for that reason, there are many complicated decisions involved in choosing your new home.      

Today I would like to talk to you about 4 Reasons Why Summer Is a Great Time to Buy a Home!

 

Here are four great reasons to consider buying a home today instead of waiting.

 

1. Prices Will Continue to Rise

CoreLogic's latest Home Price Insights reports that home prices have appreciated by 7% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 5.2% over the next year.

Home values will continue to appreciate for years. Waiting no longer makes sense.

 

2. Mortgage Interest Rates Are Projected to Increase

Freddie Mac's Primary Mortgage Market Survey shows that interest rates for a 30-year mortgage have increased by half a percentage point already in 2018 to around 4.5%. Most experts predict that rates will rise over the next 12 months. The Mortgage Bankers Association, Fannie Mae, Freddie Mac and the National Association of Realtors are in unison, projecting that rates will increase by nearly a full percentage point by this time next year.

An increase in rates will impact YOUR monthly mortgage payment. A year from now, your housing expense will increase if a mortgage is necessary to buy your next home.

 

3. Either Way, You Are Paying a Mortgage

There are some renters who have not yet purchased a home because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s.

As an owner, your mortgage payment is a form of ‘forced savings’ that allows you to have equity in your home that you can tap into later in life. As a renter, you guarantee your landlord is the person with that equity.

Are you ready to put your housing cost to work for you?

 

4. It's Time to Move on with Your Life

The ‘cost’ of a home is determined by two major components: the price of the home and the current mortgage rate. It appears that both are on the rise.

But what if they weren't? Would you wait?

Look at the actual reason you are buying and decide if it is worth waiting. Whether you want to have a great place for your children to grow up, you want your family to be safer, or you just want to have control over renovations, maybe now is the time to buy.

If the right thing for you and your family is to purchase a home this year, buying sooner rather than later could lead to substantial savings. 

 

Source.. KCM Fernando Herboso Blog

 

To protect your interests and assure that you make the best possible decisions,  

it's important that you have a knowledgeable agent on your side who is an expert in the local real estate market.  

We are dedicated to keeping you on top of our local market. Rest assured that we will provide you with a well-informed,  

and the most updated strategic view for your home purchase in Germantown Maryland  

To reach us, please call 301-246-0001 

or send us an email  info@ReallyNiceHomes.com  

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www.99SOLD.com - Call or text 240-426-5754 for more information