Selling your Portland home? Check out our free home value report
Buying a Portland home? Search all homes for sale
Is 2016 the right year for you to buy a home? The short answer is yes.
Here’s why: the S&P Shiller numbers show that in October of 2015, Portland saw an annualized appreciation rate of 10.9%. Along with Denver and San Francisco, Portland is leading the nation in home appreciation. From an investment standpoint, this is a fantastic time to buy.
If you buy now instead of waiting for a year, you will save a lot of money. Today, you can get a $250,000 home with a 4.01% interest rate. Your monthly payment would be $1,195. If rates go up as they’re projected to, that same home will cost $263,250 with a 4.8% interest rate. Your monthly payment will go up to $1,381 if you wait a year to buy a home.
If you get in the market today, you will save a lot of money. Don’t wait for next year. If you look at it from a monthly standpoint, you can go out to dinner or make a dent in that car payment with the money you saved. Annually, that money can go towards a vacation or pay off a couple credit cards. Over 30 years, if you buy now, you will save $67,032.
As you can see, it’s a great time to be in the market. If you have any questions, give us a call or send us an email. We would be happy to help you!
