The Cost of Waiting

I have several buyers looking at this exact scenario. If  you are in this situation and it gets too emotional I recommend looking back at post from a couple of days ago regarding the Serenity Prayer. (I know I did!)

Buying a House: The Cost If You Waited

Posted: 08 Jul 2013 04:00 AM PDT

 

We often talk about the potential cost of waiting to buy a home. Today, we want to look at the actual cost for someone who waited over the last year. We used a 10% increase in house values as prices have gone up by double digits in the country on average. We looked at approximate mortgage rates last year compared to this year. Here is the impact on a monthly mortgage payment (principal and interest):