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The Cost of Waiting to Buy a Home

THE COST OF

WAITING

let's take a look at a few home purchase scenarios

Scenario #1

Rates & home prices slightly increase

 

Scenario #2

Rates increase moderately as many predict & home prices stay level

Scenario #3

You save more for a larger downpayment but rates & home prices increase moderately

QUICK EXAMPLE

 

Home Price: $750,000

Down Payment: 5%

Interest Rate: 4.25%

 

While you wait (~6 months)

Rates & home prices slightly increase

Prices go up just 1%

Rates go up just .25%

 

Differences after waiting

The same home now costs $7500 more

Your monthly mortgage payment is now $141 more

Over 3 years that’s $5,081 in additional loan costs

THE KELLER FORSYTH GROUP

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CA State Brokerage Address

2603 Camino Ramon St 200 
San Ramon, CA 94583 
CalBRE#: 01878277

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Realtor CalBRE 02007973 ~ eXp Realty of Ca, Inc.

Serving Orange County, California