1. Prices are rising: Prices are projected to 25% increase through 2018. First-time buyers, move-up buyers, down-sizers and investors can get more for their money by purchasing while prices are low.
2. Mortgage rates are predicted to increase: Although the Fed has just indicated that it will tip-toe taper off of quantitative easing (bond buying), the mortgage community speculates that mortgage rates will not follow the Fed’s slow change trend. Fannie Mae, Freddie Mac, The National Association of Realtors and The Mortgage Banker’s Association expect 30 year fixed rates to be over 5% by the end of 2014.
3. Rents are up: Front Range rental vacancies are almost non-existent. Landlords can charge more as a result of the tight market. Do you want to pay your own mortgage or your landlord’s mortgage?
4. Home ownership builds family wealth: A recent Fed report shows that homeowner net worth is 30 times that of renters.
5. Buy low, sell high: In the historical view, housing prices are still relatively low. Build wealth by buying before the anticipated price increases.
Read the Original Article Here: 5 Reasons to Buy A Home
