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Rose & Womble Realty
Don't Wait...
The COST of WAITING to BUY
If you wait to buy a home hoping that the rates will come down…here’s what happens if they go up.
If you are a seller that plays the game of pricing your home high at first to leave so-called negotiation room…here’s what happens.
Sales Price $200,000. 400,000. 600,000.
Interest Rate 5% $1,074mo* $2,148mo* $3,222mo*
6% $1,200mo* $2,400mo* $3,600mo*
7% $1,300mo* $2,660mo* $3,990mo*
So then…If you are planning to purchase a home for around $400,000 at 5% interest rate BUT you decide to wait for the rates to go down…it may cost you over $500 more per month for that same home if rates go up. WOW!!
Historically, when rates rise up they do so quickly and dramatically. Don’t wait. And sellers that price too high may discourage buyers that have to wait for the rates to hopefully go down to afford your home. Most likely they’ll buy elsewhere.
Call us TODAY before you miss an excellent opportunity.
We are here to guide you through.
(757) 652-1414 or email cwalker-realtor@cox.net .
*Principle & Interest only, does not include Taxes & Insurance.
Equal Housing Opportunity |