There are many great San Diego area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Value Report so you know what buyers will pay for your home in today's market. You may also call me at (619) 562-6800 for a FREE home buying or selling consultation to answer any of your real estate questions.
How Much Money are You Losing by Waiting to Buy?
It may sound strange, but if you're planning to buy a home, you're actually losing money by sitting on the fence right now. Today I'll give a couple compelling reasons to buy a home now, and these reasons are backed by real estate economists. Keep in mind that all of this information is only relative to San Diego real estate.
- Appreciation is rising: Some experts are expecting home prices to rise by 12% in the next five years, but other expects are predicting a rise of 18-19% in San Diego County.
- Interest Rates are Rising: Realistically, I believe that we can expect interest rates to rise by 1% from now until next year. When you take this number and add in another 5-6% for appreciation, the average home (nationally) would cost you an extra $300 a month by just waiting until next year! If you're in San Diego the bad news is that waiting to buy would cost you $600 a month.
- Considering this, what could you do with an extra $600 per month? You could spend it on a sushi dinner, or get a few massages every month, or you could buy a brand new car. You could also put this money away and save it, and in 5 years you would have $36,000 saved up.
Please do not hesitate to contact me with any questions about real estate in San Diego.
