Presented by Dwight Wimberly / Realty Associates

Trying to time the market for the right time to buy or sell a home can be a costly mistake.  The following are a list of conditions that can cost you money by waiting to buy or sell at a later date.

 

Rates might go up.  If you are a buyer, it's wise to take advantage of low interest rates to lower your house payment or be able to purchase a more expensive home.  If you are thinking of selling, don't wait for higher rates or economics to slow down the market and drive down prices.

 

Home prices might go up. Thinking about waiting until next year to buy a home?  Historically home prices have always gone up.  buying a yr. from now could cost you more, especially if both prices and interest rates go up.  With liberal financing plans available, it's wise to see if you qualify to buy today without waiting.

 

If you are renting, you could be losing tax deductions if you wait to buy at a later date.

 

Your home might be worth less.  Call a Realtor first to find out if your home is worth what you think it is  It may need repairs to help it sell.  Don't wait until the last minute to find that out.

 

Double house payments.  If  you are building a new home and you wait to time the market to sell your existing home to sell, you could end up with two house payments as well as monthly maintenance cost of the vacant home.  This is also true if you are relocating to another city.

 

You could lose speculation time.  If you are selling, you could lose speculation time, if you wait and list your home when you are left with only a short time to meet your move date.  Sometimes owners try to sell "by owner" first and then wait until the last minute to hire a Realtor to get their home sold.

 

 

If you are thinking of selling your home, give Dwight a call to get an estimate of your net proceeds.  Know before you buy.

 

 

Are There Drawbacks to Waiting?

Sometimes waiting to buy or sell can cost you