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Buy Or Sell With James Jestes and eXp Realty

386 315 4744
James@JamesJestes.com

Serving The Greater Daytona Beach Area

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How Smart Is It to Buy a Home Today?

How Smart Is It to Buy a Home Today? | Simplifying The Market

Whether you’re buying your first home or selling your current house, if your needs are changing and you think you need to move, the decision can be complicated. You may have to take personal or professional considerations into account, and only you can judge what impact those factors should have on your desire to move.

However, there’s one category that provides a simple answer. When deciding to buy now or wait until next year, the financial aspect of the purchase is easy to evaluate. You just need to ask yourself two questions:

  1. Do I think home values will be higher a year from now?
  2. Do I think mortgage rates will be higher a year from now?

From a purely financial standpoint, if the answer is ‘yes’ to either question, you should strongly consider buying now. If the answer to both questions is ‘yes,’ you should definitely buy now.

Nobody can guarantee what home values or mortgage rates will be by the end of this year. The experts, however, seem certain the answer to both questions above is a resounding ‘yes.’ Mortgage rates are expected to rise and home values are expected to appreciate rather nicely.

What does this mean to you?

Let’s look at how waiting would impact your financial situation. Here are the assumptions made for this example:

  • The experts are right – mortgage rates will be 3.18% at the end of the year
  • The experts are right – home values will appreciate by 5.9%
  • You want to buy a home valued at $350,000 today
  • You decide on a 10% down payment

How Smart Is It to Buy a Home Today? | Simplifying The MarketHere’s the financial impact of waiting:

  • You pay an extra $20,650 for the house
  • You need an additional $2,065 for a down payment
  • You pay an extra $116/month in your mortgage payment ($1,392 additional per year)
  • You don’t gain the $20,650 increase in wealth through equity build-up

Bottom Line

There are many things to consider when buying a home. However, from a purely financial aspect, if you find a home that meets your needs, buying now makes much more sense than buying next year.


GIVE ME A CALL AND LETS TALK ABOUT YOUR REAL ESTATE NEEDS – JAMES JESTES 386-315-4744

Most Recent MLS Listings Today

580 Rio Vista Avenue Daytona Beach FL 32114
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$799,000
3
BEDS
2
TOTAL BATHS
1,841
SQFT
580 Rio Vista Avenue Daytona Beach, FL 32114
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Embrace the ultimate waterfront lifestyle in this stunning riverfront retreat, offering breathtaking views, deep-water access, and a private dock with a brand-new boat lift. This 3-bed, 2-bath, 1,841 sq. ft. home sits on 100 ft of deep water frontage

Listing courtesy of James Jestes of EXP Realty LLC
425 Lime Avenue Daytona Beach FL 32124
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$439,900
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1,464
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425 Lime Avenue Daytona Beach, FL 32124
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Gorgeous Dreamsicle cottage in dynamic & lively Latitude Margaritaville. So Many Upgrades. Light & bright & porcelain wood look tile floors, plantation shutters & crown molding throughout. IMPACT WINDOWS & DOORS. Open kitchen with S/S KitchenAid appl

Listing courtesy of Kelley Sarantis of Bob Hodges and Sons Realty
5 King Phillips Way Ormond Beach FL 32174
Open House Sat, Jul 12, 1 PM
1 / 59
$699,900
3
BEDS
3
TOTAL BATHS
3,226
SQFT
5 King Phillips Way Ormond Beach, FL 32174
Single Family Residence For Sale
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Welcome to this entertainer's dream home, a custom-built masterpiece nestled in the prestigious Ormond Lakes community of Ormond Beach, Florida. This expansive 3-bedroom, 2.5-bathroom residence offers an open-concept design, perfect for hosting gathe

Listing courtesy of Kevin Kaiser of Realty Pros Assured
2306 John Anderson Drive Ormond Beach FL 32176
New Listing - 14 minutes on site
1 / 57
$999,000
4
BEDS
3
TOTAL BATHS
3,387
SQFT
2306 John Anderson Drive Ormond Beach, FL 32176
Single Family Residence For Sale
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Live where every day feels like a vacation right on the Halifax River. Nestled directly on the Halifax River, 2306 John Anderson Drive is a rare Intracoastal gem offering timeless charm, modern comfort, and front-row seats to some of the most specta

Listing courtesy of Marvin O Adams of Realty Pros Assured

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Related posts:

  1. 4 Reasons to Buy a Home in the Spring
  2. 4 Reasons to Buy A Home This Summer
  3. Buying a Home Right Now: Easy? No. Smart? Yes.
  4. Owning a Home Is Still More Affordable Than Renting One

Posted in: Blog, Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Interest Rates, Move-Up Buyers, Pricing

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James Jestes Broker Associate SRN Real Estate Pros

James Jestes


Broker Associate | eXp Realty
386-315-4744
James@JamesJestes.com
I'm Available Daily:
8:00AM to 8:00PM

Call, Text or E-mail!

"As an Associate Broker with eXp Realty, I am dedicated to helping families and individuals accomplish their real estate goals by providing dedicated service when buying or selling a home. I have served my country in the U.S. Army and the U.S. Marines; I bring that same sense of service and selflessness to every one of my customers."

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Latest Real Estate Information

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BUY AND SELL REAL ESTATE WITH JAMES JESTES

James Jestes Broker Associate SRN Real Estate Pros

James Jestes


Broker Associate | eXp Realty
386-315-4744
James@JamesJestes.com
I'm Available Daily:
8:00AM to 8:00PM

Call, Text or E-mail!

"As an Associate Broker with eXp Realty, I am dedicated to helping families and individuals accomplish their real estate goals by providing dedicated service when buying or selling a home. I have served my country in the U.S. Army and the U.S. Marines; I bring that same sense of service and selflessness to every one of my customers."

FEATURED LISTINGS

No Results Found.

SEARCH ALL OF THE GREATER DAYTONA BEACH AREA

Price

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Today’s Real Estate Information

  • 10 Great Homes For Sale In The Greater Daytona Beach Area
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  • What’s Behind Today’s Mortgage Rate Volatility?
  • Is Wall Street Really Buying All the Homes?

James Jestes, Your new favorite Realtor.

Hello my name is James Jestes and I am a Broker Associate with eXp Realty.  I am dedicated to helping you find your perfect new home. I’m a no hassle, no pressure agent here to help you accomplish your real estate goals. Please reach out to me and let me know how I can help you purchase or sell your home.

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Contact James Today

James Jestes
eXp Realty
386-315-4744
James@JamesJestes.com

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