As we are approaching rent renewal season, many are speculating whether or not they should take the plunge and escape the renters trap once and for all. First time homeownership is a exciting and slightly intimidating prospect for many renters. Many wonder, can we afford a home? Is the market in a good place? Should we wait until next year?
Here is what market experts are saying about the housing market, as recently reported in the KCM blog.
Economists see several reasons why 2015 might be a banner year for homebuying — and not just in San Francisco and Miami.
If you have been thinking about purchasing a home, the first half of 2015 might be a good time.
As rent increases, it simply makes more sense to buy a home.
In sum?
Buying earlier in the year will bring good prospects for homebuyers. Putting off the decision until next year could prove costly, as mortgage rates and home values are projected to rise.
Now is a great time for first time homebuyers, and options have recently gotten easier with newly lowered FHA annual mortgage interest premiums, and new 3% down options.
