Cost of waiting to buy $30,000 mistake

Kevin Brierton

Just one year of waiting to buy a house could cost you tens of thousands of dollars (see charts). 

For example, a homebuyer considering a $250,000 home would lose $7,500 if home prices increase by 3% during that one year timeframe.  They would lose an
additional $21,391 over the life of a $200,000 mortgage if interest rates also increase by 0.5% during that same one-year time period. 

The money you’d lose by waiting a year can be even higher if you are considering a higher priced home. Contact me if you’d like to run the numbers for your situation and explore your options!

Source: CMPS Institute

 

Kevin Brierton
Kevin Brierton
Sr Loan Consultant NMLS 599873
NMLS: 599873
Caliber Home Loans
kevin@kevinbrierton.com
(480) 553-8770
16430 N Scottsdale Rd Ste 170,
Scottsdale, Arizona 85260
Corporate NMLS: 15622
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