1) Mortgage interest rates and prices are on the rise
Corelogic’s latest report shows home values have appreciated by 7.1% over the last 12 months and they predict prices will rise another 4.9% over the next year.
On top of that, The Mortgage Bankers Association, Fannie Mae, Freddie Mac & the National Association of Realtors all agree that mortgage interest rates will rise this time next year. Meaning, there is no time like the present to purchase a home.
2) You are always paying a mortgage
Whether it is your landlord’s mortgage or your own, you are paying a mortgage. With a landlord, you pay and pay and when all's said and done, you walk away with nothing. WIth your own mortgage, you are able to get your return on investment when you want or have a home to live in! Think of your own mortgage as a forced savings account that you can tap into at any time!
3) It is time
What is the reason you want a home? More space? A yard? Less financial burden in the long run? Whatever the reason is, give it a timeline, when will that goal benefit you? Most of the answers are now.