If you are waiting for prices of homes to drop, you will probably be disappointed to learn all real estate reports say prices are going to continue to rise. No matter who you confer with regarding the state of home sales, the conversation leads to the same answer of buy now don't wait.
We also know that mortgage rates are on the increase and that is another reason to purchase your home now. The increase in your mortgage rate will also impact the monthly payment so it is a wise decision to contact your Realtor now and start the process. The great news for you as a buyer is your mortgage payment will likely be lower than your rental payment each month. Many times it is cheaper to buy than rent.
If you believe you need a large down payment to purchase your home, you might be pleasantly surprised to learn you have enough saved for a down payment to qualify for a loan for the home you have been wanting to purchase.
The bottom line is that if you are ready and want to purchase a home now, you may be able to do just that. With the help of a professional, you can quickly determine if you are qualified to buy your home and move yourself out of the rental trap.
Whether you are first time home buyer or an empty nester, contact me for guidance in making your home buying decision easier and stress free.