Now Is The Time To Buy

Dated: 11/13/2018

Views: 272

"I need to wait, save money for a larger Down Payment".  Hear this all the time, BUT is it smart to wait?  Years ago maybe. Today all it does is cost you thousands of dollars!  Here's a true story:

Last year, I found my Client her "Dream" home, it's in her price range, has EVERYTHING she wants & more!  Even though it's everything she wanted, Dad told her to wait one year to save up $18,000 for a larger down payment.  Good advice?  Live at home, free rent, save $18,000 and get a lower monthly home payment!  Well it didn't work out that way.  Her $250,000 home is now $285,000,  her 4.25% loan is now 5.25%! Last year's BASE Payment (No HOA, PMI, Taxes) was $1,187.00 with $8,750 down. This year with $26,750 DOWN it's $1,426.00!  ($18,000 more to get a $239 HIGHER payment AND be a year further out from paying off her loan).   

What would you say if a cashier asked:  "Would you like to pay an extra $18,000 today so you can have a HIGHER monthly payment of $239? It's only $86,000 more over the life of the loan!       

This is why I tell my clients I believe it's wiser to buy now vs waiting, even if it's not the house you want, GET IN THE MARKET!  Protect yourself from these increases OR YOU MAY BE OUT OF THE MARKET FOREVER!

If you are interested in finding or selling a home, feel free to call me, I'd love to help you find your dream home. 623-745-6612. 

Next we will talk about the importance of doing a thorough "Needs, Wants & Goals" Analysis and why it needs to be in writing...      

Jim Yungner

 

Latest Blog Posts

Client Vs CustomerWhats The Difference In The Real Estate World

Believe it or not, the terms are not interchangeable and there is a HUGE difference in how you are represented and treated in a transaction. When a Realtor is representing you, the buyer, or seller,

Read More

Open Houses For Peoria Arizona This Weekend And Future Weekends

Once in a while I create a specific search criteria for a client, but then I think it's useful for the masses...  This is one of those circumstances.  Here's a list of all the open houses

Read More

How Does The New Home Builders Salesperson Represent Me The Buyer

It’s very simple, THEY DON’T!Looking into a new construction home can be one of the most fulfilling accomplishments of a persons life. Why wouldn’t it be? Everything is new, clean and the

Read More

Rental Properties And Using A Realtor

Should I use a Realtor when looking for a rental property? With the internet, various real estate apps and craigslist, people want to save money. Many people are doing so by 

Read More