Buying Real Estate Why When Where How

Dated: January 5 2016

Views: 169

Answering the 4 basic questions about real estate is simple, it's just not always easy...

Image title

Ain't that the truth!

5 years ago was the best time to buy, of course! Now when is the second best time to buy? RIGHT NOW!

Reason No. 1: Interest Rates = Buying Power

This is one of the most misunderstood concepts in all of real estate, even agents don't fully comprehend the luxury of the ridiculously low interest rates!

Let me simplify this as best I can...  for every 0.5% interest rates go up, you lose the ability to purchase by 4-5%! That means if you qualify for a $250,000 house today and interest rates go up even one HALF of one percent, you will only be able to qualify for a $235,000 house!  

See the table below:Image title

These numbers are skewed even further if you're putting less than 20% down (which most people are)

Reason No. 2 to buy NOW and not wait:

Renting is MORE expensive than buying, both in the long run and the short hall. 

In Pinellas County, a typical single family home with 3 bedrooms, 2 bathrooms, a fenced in yard in an average neighborhood costs about $1200 per month to rent (conservatively). As you can see above in the table, for $1200 per month, you can afford to purchase a $295,000 house getting you not only 3 beds, 2 baths, a nice yard in a great neighborhood, but also giving you a private savings account to store your home's equity rather than giving it away to a landlord! 

Image title


Latest Blog Posts

Dealing With Popcorn Ceilings

Popcorn is great with a movie or possibly for stringing around an old-fashioned Christmas tree, but it’s a little less universally loved when it’s applied to the ceiling as a texture. “Popcorn

Read More

Oct 1 2020 71067 1

Where Are Home Values Headed Over the Next 12 Months?As shelter-in-place orders were implemented earlier this year, many questioned what the shutdown would mean to the real estate market.

Read More

Sep 1 2020 71067 1

Builders & Realtors Agree: Real Estate Is BackWhen shelter-in-place orders brought the economy to a screeching halt earlier this year, many believed the residential housing market would follow suit.

Read More

Aug 3 2020 71067 1

https://blog.homekeepr.com/title-insurance-what-it-is-why-you-need-it?sharedby=jennifer-reger&utm_source=ActiveCampaign&utm_medium=email&utm_content=Your+branded+blog+post+%7C+Title+Insurance%3A+

Read More