If you need assistance, please call 916-529-5342

3 Questions to Ask Yourself Before Buying A Home

Tuesday, April 14, 2015   /   by Thomas March

3 Questions to Ask Yourself Before Buying A Home

 photo 3-Questions-To-Ask_zps2jaudrga.jpg


If you are debating purchasing a home right now, you are surely getting a lot of advice. Though your friends and family will have your best interest at heart, they may not be fully aware of your needs and what is currently happening in real estate. Let’s look at whether or not now is actually a good time for you to buy a home.


There are 3 questions you should ask before purchasing in today’s market:


1. Why am I buying a home in the first place?


This truly is the most important question to answer. Forget the finances for a minute. Why did you even begin to consider purchasing a home? For most, the reason has nothing to do with finances.


A study by the Joint Center for Housing Studies at Harvard University reveals that the four major reasons people buy a home have nothing to do with money:



  • A good place to raise children and for them to get a good education

  • A place where you and your family feel safe

  • More space for you and your family

  • Control of the space


What non-financial benefits will you and your family derive from owning a home? The answer to that question should be the biggest reason you decide to purchase or not.


2. Where are home values headed?


When looking at future housing values, Home Price Expectation Survey provides a fair assessment. Every quarter, Pulsenomics surveys a nationwide panel of over 100 economists, real estate experts and investment & market strategists about where prices are headed over the next five years. They then average the projections of all 100 experts into a single number.


Here is what the experts projected in the latest survey:



  • Home values will appreciate by 4.4% in 2015.

  • The cumulative appreciation will be 19.3% by 2019.

  • Even the experts making up the most bearish quartile of the survey still are projecting a cumulative appreciation of over 11.7% by 2019.


3. Where are mortgage interest rates headed?


A buyer must be concerned about more than just prices. The ‘long term cost’ of a home can be dramatically impacted by an increase in mortgage rates.


The Mortgage Bankers Association (MBA), the National Association of Realtors andFreddie Mac have all projected that mortgage interest rates will increase by approximately one full percentage over the next twelve months.


Bottom Line


Only you and your family can know for certain the right time to purchase a home. Answering these questions will help you make that decision.

-- Thomas March Home Selling Group --- Proudly with Keller Williams Realty
Thomas March
548 Gibson Drive, Suite 200
Roseville, CA 95678
916-529-5342
DRE# 01427654

metrolist logo.png The real estate listing data marked with this icon comes from the IDX program of the Sacramento Metrolist Multiple Listing Serviceā„¢ system. Information deemed reliable, but not verified or guaranteed. Users are responsible for checking the accuracy, completeness, currency, and status of all information. All measurements and all calculations of area (i.e., Sq Ft and Acreage) are approximate. Broker has represented to MetroList that Broker has a valid listing signed by seller authorizing placement in the MLS. Above information is provided by Seller and/or other sources and has not been verified by Broker. Some properties that appear for sale on this web site may subsequently have been sold and may no longer be available. Copyright 2020 MetroList Services, Inc.
Terms and Conditions

Powered by metrolist logo.png
This site powered by CINC: www.cincpro.com