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Top Reasons Why Now is the Best Time to Buy a New Home

January 7, 2015

The Christmas tree and all its trimming are put away for another season. Christmas 2014 is officially behind us and most folks are making plans for a new year. If your plans for 2015 include a new home for your family, here are the top reasons why choosing your new Grant home during the first quarter of 2015 is a good idea.

1. Prices Will Definitely Be Going UP

The bottom in home prices has come and gone. According to The Home Price Expectation Survey, a poll of over 100 economists, investment strategists, and housing market analysts, we can expect an appreciation in home values over the next five years to be between 15.1% (most pessimistic) and 32.8% (most optimistic). Home values will continue to appreciate for years to come and that’s great news for our homeowners.  As for buyers, waiting for lower prices no longer makes sense. 

2. Mortgage Interest Rates: What Goes Down Must Come Back Up

We have enjoyed low interest rates for the past couple of years and, hopefully, the Grant preferred lenders like Community Mortgage can stay in the low rate range for 2015. However, the Mortgage Bankers Association, Fannie Mae, Freddie Mac & the National Association of Realtors agree that rates could be up almost a full percentage point by the end of 2015. An increase in rates will impact YOUR monthly mortgage payment, how much you pay for your new home in the long haul and how much home you can quality for.

3. Why Not Pay Your Own Mortgage – Not Your Landlord’s

This question has become a mantra for real estate sales agents, but paying rent is getting harder and harder to justify with the rising costs of rent in the Memphis Metro area. You are going to pay something for a place to live. Why not pay down the principal of your own mortgage instead of the mortgage for your landlord. Plus, you get the home you want in the location that is right for you, the tax benefits and a place YOU own.

4. Carpe Diem! Seize the Right Time to Buy a New Grant Home

Is it really worth waiting to buy your new home? What is the real reason you are considering a move? Is it convenience to work? A good school for your children? More space for your family? More up-to-date home features? Concerned about home prices? They are going up. Undecided about mortgage rates? A Grant Preferred Lender can answer all your questions and concerns and provide the best rate/terms.  Looking at a home and trying to make a decision about whether or not to buy?  With a historically low inventory of homes - especially new homes - on the market, someone else is also looking at that same home.   If you decide that purchasing a new home for your family in 2015 is the right decision, buying now rather than later could lead to substantial savings, greater peace of mind and a great start to the New Year.  For a complete list of Grant homes in Olive Branch, MS, Arlington, TN, Bartlett, TN, Lakeland, TN, and Memphis, TN, click here.