Thursday, February 25, 2016 / by Tom Nickley
There are three questions that we believe every buyer should ask themselves before buying. Answering these questions will help make the process smoother, less frustrating, and clearer.
1. What am I purchasing this home for? Is it going to be your forever home, an investment, a vacation home? Answering this question right off the bat will make the search a lot easier.
2. Where are home values headed? Purchasing a home is one of the biggest investments someone will make in their life. Whether it’s a good or bad investment often comes down to home values. In Orlando, they’ve gone up an incredible 15% in the last year, and are on track for another 8% increase this year. It’s a great time to buy a home in this market.
3. Where are interest rates and where are they heading? We are experiencing interest rates right below 4% right now which is crazy. However, the smallest change in rates can mess up your purchasing power. A 1% increase will affect your affordability by 11%!
If you’re thinking about buying or selling in Central Florida, we would love to hear from you. Just give us a call or send us an email!