Qualifying for a Home Loan
The Cost of Waiting to Buy
Does it really matter if I wait to buy a home? Maybe, maybe not. If you’re not ready, then you’re just not ready, and no one should talk you in to something you are not prepared for.
However having said that, if you are that person who knows you are going to buy a home, and you just haven’t been able to tear yourself away from the latest episode of ”The Voice” to do your homework, then I am speaking to you.
Yes, it matters. Nothing is guaranteed. Interest rates go up, loan programs change, more rules are implemented every day, and not all of this is to your advantage. The housing market has come back in full thrust! With this huge wave of prosperity for those of us in this business, there is also a downside for buyers. It is a Seller’s market again. Which means, values are going UP. There is no longer an issue of worrying about homes selling, appraising or negotiating all the little fine details. There is a housing SHORTAGE in certain markets. The theme seems to be, you snooze, you lose.
Aside from the difficulty of finding a home right now, look at the photo on this page and you can see in terms of MONEY, what it cost when you wait too long.