"I'll hold off buying a home until next year." If you've thought of purchasing a home, but don't want to deal with the process now, you've probably had this thought cross your mind a time or two. A pretty common tendency to hold off things on our to-do list, especially the ones that seem like a lot of work. But would you hold off the task if I told you that waiting could make a difference of tens of thousands of dollars? Meaning it could cost you a $10,000-$50,000 (or more) difference to get the home you want today, in next year's market.
It's anticipated, by the national historical trend report, that homes are on the rise by over 5% each year. That house you've been eyeing online, listed for $225,000, could be listed next year for $236,250. That is over $10,000 more just for waiting till 2022. In fact, last year Kentucky home sellers saw a $17,000 increase in the value of their home. And the national average was $34,000 in the United States. This isn't even bringing into question the rising APR rates for mortgages, that can increase your monthly payment amount on a home pretty significantly, as well.
I get it, the home buying process can seem pretty intimidating. But with an experienced agent on your side, it can actually go pretty smoothly. Let's get in touch. It won't hurt to connect you with a preferred lender and run the numbers through to see what you qualify for. The right time is always right now, I want to help you save the money you deserve to keep, by avoiding the wait.
About the Author: Kim Soper is a lifelong Lexington KY resident and Co-Founder of Better Homes and Gardens Real Estate Cypress. She has over 17 years experience selling real estate all over Lexington KY and the Central KY areas. Kim is the manager/Realtor of ExploreLexingtonKY.com - Home to Your Best Source for Lexington KY Real Estate!