Are you the wandering buyer that’s been on the fence awhile when it comes to purchasing a home? Well, let me just say….get off off the fence!! Interest rates are now rising, and it’s anticipated they may jump up a few more times before the end of the week.
If you can currently buy a home (on a fixed rate) for close to what you would be paying in rent anyway, then buy the home! With home prices down, interest rates still in a good place, and mortgage interest deductions on your tax bill, it really doesn’t make much sense to keep writing that rent check.
I realize the economic uncertainity has paralized many potential home buyers, however unless you are planning to move again within the next 5 years, you have a very strong chance of weathering the storm and to be there for the next real estate upswing. Believe me, If I had the funds, I would be buying multiple properties all over the place.