Do you want to buy a home but feel stuck because of interest rates?
It makes sense and it feels a little discouraging at times.
How much more is it costing you to buy a house now vs. earlier in the year when rates were 2% less?
Assuming…
- The average person moves every 7 years
- You don’t refinance at all
- You spend $350,000 with 10% down
The extra interest costs to buy now would be approximately $30,000 over the 7 year period!
Now, here is where it gets good….
I have had several buyers close on homes recently that would have easily gone $30,000 - $50,000 OVER the asking price if these homes had been for sale earlier in the year.
These buyers didn’t have to go over the asking price AND they were able to buy with inspections, saving them thousands in repair costs that would have been waived back in the spring.
Just the savings from not getting in a bidding war make up the difference in extra interest expenses.
Plus…
Depending on the house, we may be able to negotiate the price down, which I LOVE doing for my clients! So, it actually may be cheaper in the long run to buy now vs. when rates were lower.
The winter is also a great time to get great a great deal when less people are shopping.
Reach out to me and we will put your numbers into my “Interest Offset” calculator and see what we need to do to you you in a home now vs. waiting for rates to come down.
We have a bunch of other creative ways to help you buy the home of your dreams. Let's talk!
There is a better way home!
