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    How Much Could it Cost You if You Wait to Buy a Home?

    This is an incredibly exciting time in real estate. Due to low inventory and low interest rates, the market is very hot, and definitely favors sellers. But if you’re a buyer or contemplating purchasing a home, you might think it would be more prudent to wait a few years until things calm down.

    Think again. The longer you wait, the more your home will cost you initially, and over time, especially as mortgage rates and home prices increase. Even incremental changes in interest rates can have a huge impact on your buying power. And when you add in the equity you’re missing out on as home prices appreciate over the next few years, it’s obvious this is still the best time to buy.

    Here’s a look at how much waiting could cost you over the next few years. We’ve based these estimates on Freddie Mac home price appreciation and mortgage rate projections.

    $250,000 Home Loan

    January 2021

    • $250,000 Loan Amount
    • 2.8% Interest
    • $1,027 Monthly Payment
    • 12.1% Annual Appreciation Projection

    January 2022

    • $280,250 Loan Amount
    • 3.4% Interest
    • $1,243 Monthly Payment
    • 5.3% Annual Appreciation Projection

    January 2023

    • $295,103 Loan Amount
    • 3.8% Interest
    • $1,375 Monthly Payment
    • Unknown Annual Appreciation Projection

    These are homes in the $250,000 range all around Central Florida that could give you $45,000 in equity in just 2 years!

    $500,000 Home Loan

    January 2021

    • $500,000 Loan Amount
    • 2.8% Interest
    • $2,054 Monthly Payment
    • 12.1% Annual Appreciation Projection

    January 2022

    • $560,500 Loan Amount
    • 3.4% Interest
    • $2,486 Monthly Payment
    • 5.3% Annual Appreciation Projection

    January 2023

    • $590,207 Loan Amount
    • 3.8% Interest
    • $2,750 Monthly Payment
    • Unknown Annual Appreciation Projection

    Check out these homes currently listed at $500,000 and move before interest rates cost you an additional $750 per month!

    $750,000 Home Loan

    January 2021

    • $750,000 Loan Amount
    • 2.8% Interest
    • $1,027 Monthly Payment
    • 12.1% Annual Appreciation Projection

    January 2022

    • $840,750 Loan Amount
    • 3.4% Interest
    • $3,729 Monthly Payment
    • 5.3% Annual Appreciation Projection

    January 2023

    • $885,310 Loan Amount
    • 3.8% Interest
    • $4,125 Monthly Payment
    • Unknown Annual Appreciation Projection

    Here are some great homes currently listed for $750,000 – take a look now before they end up costing up to $115,000 more!

    Like these homes, or interested in seeing what’s out there in your price range? Contact me and we’ll set up a customized search and private tours of your favorite homes.

    Get a better idea of how much home you can afford, and what your interest savings could be if you buy now.

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