The biggest question in Real Estate today is, “Should I buy a home now or wait for rates to drop?”
Our savvy Real Estate Investors and high net worth clients are still buying. And they’re buying because they understand the economics of it. They look at Real Estate as not just a place to live, but as part of their investment strategy. And you can, too.
Let’s break it down…
$400,000 house 🏡 with 10% down = $40,000 initial investment 💰
🏡 $400k house appreciates at a super conservative 3% per year over 5 years (15%) The home value has now gone up in value $60,000 which equals a 150% return on your investment!
🏡 Not to mention some of the money you are paying towards the mortgage is applied to the principal balance of the mortgage. Where else can you get 150% ROI?
Homeownership is the best investment out there, in my opinion.
🏡 Yes, interest rates are higher right now, but it’s temporary. The opportunity cost/loss of waiting far exceeds the difference in rates.
🏡 The question I have for you is would you rather have the 15% appreciation on a $400k house or a $600k house?
🏡 3% annual appreciation on a $600k home equals $18,000, The difference in interest paid between a 7.5% loan and a 5% loan annually is $10,583. That’s a benefit of $7,417 in to you.
🏡 Everything we’re hearing is rates will come down, likely next year. Real Estate Values (prices) will raise more when that happens.
Be bold and follow the math. This is the time when you should be buying, when there is fear in the market.
If you are ever going to push yourself on something, push yourself on Real Estate. Get uncomfortable. A big chunk of my wealth has come from pushing myself on my Real Estate.
So the answer to the question, “Should I buy a home now or wait for rates to drop?” is a resounding yes…you should buy!
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