Buying a home is one of the biggest decisions an
individual can make, so it is understandable that
someone considering a home purchase may take
their time to avoid rushing into such a large financial
commitment. However, several factors might leave
prospective homebuyers who don’t purchase a
property now wishing they had taken action sooner.
According to James M. Weichert, president and founder of Weichert, Realtors,
these are three reasons why those who are not under contract to purchase a new
home by April 30 might regret it:
•
by April 30 will leave the $8,000 tax credit that is available to them on the
table. Repeat buyers will miss out on the opportunity to collect up to
$6,500 from the government.
No money from Uncle Sam. First-time buyers who aren’t under contract•
efforts to keep mortgage rates at historic lows, and it is expected that
rates will rise. When they do, monthly mortgage payments will be higher
for those who wait.
Interest rates might rise. The government will soon put an end to its•
optimal level in decades. Those who wait to buy will likely pay more for
the home they purchase than what that same home would cost now,
meaning not only a higher price, but less appreciat
Homes may be less affordable. Home price affordability is at its most
