3 Questions You Need to Help Buyers Answer
Potential home buyers are piled with conflicting advice and opinions from friends and family...sometimes even from people they don't know. This is where the Realtor comes in. Here are smart responses to three of the most common questions buyers have today.
1. "If it's possible that prices will continue to fall, why should I buy now?"
While PRICE is the main concern for home SELLERS, COST is the main concern for home BUYERS. It is necessary to take into consideration what your monthly payment is going to be, not only considering the price of your home but also the interest rate of your mortgage. It will cost you more over the life of the mortgage if you wait for prices to bottom out while rates are rising. It would be a good idea to meet with your mortgage professional to assist you in determining what it would cost you in the case of an interest rate increase based on the expected size of your loan. That will help you make a decision.
While PRICE is the main concern for home SELLERS, COST is the main concern for home BUYERS. It is necessary to take into consideration what your monthly payment is going to be, not only considering the price of your home but also the interest rate of your mortgage. It will cost you more over the life of the mortgage if you wait for prices to bottom out while rates are rising. It would be a good idea to meet with your mortgage professional to assist you in determining what it would cost you in the case of an interest rate increase based on the expected size of your loan. That will help you make a decision.
2. "When will I begin to see appreciation if I buy now?"
It is important to examine local pricing trends since appreciation varies by market. Macro Markets LLC, a financial technology company, asked more than 100 housing industry experts to project housing prices through the year 2015. The results show that prices started increasing in the second half of 2011 and will reach a cumulative appreciation of more than 10% between then and 2015.
It is important to examine local pricing trends since appreciation varies by market. Macro Markets LLC, a financial technology company, asked more than 100 housing industry experts to project housing prices through the year 2015. The results show that prices started increasing in the second half of 2011 and will reach a cumulative appreciation of more than 10% between then and 2015.
3. "Does buying really make better sense than renting?"
Putting finances aside, why did you even consider purchasing a home? The Fannie Mae National Housing Survey shows that four of the most common reasons people buy a home has nothing to do with money at all. They want to live in a safe area, where they can raise their children and send them to a good school, and they want to have ample living space that they can have control over. What non-financial gains will your family get from owning a home? Your answers to that question should be the reason you choose whether or not to purchase. With all of that being said, the cost of a home will most likely remain relatively stable even if prices continue to depreciate. Don't allow money to be the only factor in making the right decision for you.
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Provided courtesy of the Louisiana Homes and Land Team
Keller Williams Realty Red Stick Partners
Keller Williams Realty Red Stick Partners
Hire a positive and proactive Team of Realtors to help you find your next home! Call or text (225) 366-8656 for information on Buyer’s Representation Services
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Cindy Allen Fekete, Licensed in the State of Louisiana, USA #SALE 9956330
LouisianaHomesAndLand.com (225) 571-8667
Kyle Petersen, Licensed in the State of Louisiana, USA #SALE 17648
LouisianaHomesAndLand.com (225) 413-1650
Kim Tregre, Licensed in the State of Louisiana, USA #Sale-995686296
Buyer’s Specialist LouisianaHomesAndLand.com (225)366-8656
Holly Bynum – Administrative Assistant Louisiana Homes and Land (225)435-9250
Keller Williams Realty Red Stick Partners, Baton Rouge, LA 70810, USA (225)768-1800
Each Office Independently Owned and Operated.
LouisianaHomesAndLand.com (225) 571-8667
Kyle Petersen, Licensed in the State of Louisiana, USA #SALE 17648
LouisianaHomesAndLand.com (225) 413-1650
Kim Tregre, Licensed in the State of Louisiana, USA #Sale-995686296
Buyer’s Specialist LouisianaHomesAndLand.com (225)366-8656
Holly Bynum – Administrative Assistant Louisiana Homes and Land (225)435-9250
Keller Williams Realty Red Stick Partners, Baton Rouge, LA 70810, USA (225)768-1800
Each Office Independently Owned and Operated.
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