If you have been thinking about buying a home but have been putting it off, you really should get ready and buy sooner rather than later. Many buyers have just been waiting as prices continued to sink as well as interest rates but things are all starting to change and if you don’t get out and buy soon, you may end up paying a lot more for many reasons! I have made a list of 5 of the biggest reasons to get out and buy now.
- Mortgage rates – while they are still at historic lows, they are forecast to start rising in 2013
- Rent is skyrocketing – right now for many, it is less expensive to buy than to rent, why not pay yourself that rent money
- Home prices are rising – while the housing market is far from a complete recovery, prices have started to rise and this trend is expected to continue
- Mortgages will be tougher to get – the government is expected to continue to tighten the guidelines for mortgages
- FHA loans are going to get expensive – FHA is going to dramatically increase the cost of FHA mortgage insurance late this spring making these loans much more expensive.
Now is the time to get into that new home while the prices and mortgages are still low!