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Should I Buy Now or Wait til Next Year?

Many Boomers are asking themselves, "Should I Buy Now or Wait til Next Year?"

In the infograph below, Keeping Current Matters illustrates the financial difference a year would make if you wait to buy a home until 2017. Of course, the graph targets 30 year old buyers, so let's say this could be great information for your kids, too.

The Cost of Waiting to Buy is defined as the additional funds it would take to buy a home if prices & interest rates were to increase over a period of time, in this case, 30 years. The graph includes the difference in interest rates, home prices and mortgage payments and total savings that pertain all of us Boomers, with the exception on the last block-which would be great information for your kids who may be waffling on changing residences as well. Share this bit of information with your son or daughter...

"You'll save in 30 years over $65K if you buy this year!" You'll be a hero!

The Cost of Waiting to Buy. Other factors that were considered include:

  • Freddie Mac predicts interest rates to rise to 4.8% by next year.

  • CoreLogic predicts home prices to appreciate by 5.3% over the next 12 months.

Click on the Image above to DOWNLOAD the PDF.

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