Should I Wait To Buy My First Home Until I Have More Money?
Waiting and saving might seem like the responsible thing to do, but postponing the purchase of your first home can actually COST you a lot of money in the long run. Not only will you miss out on building equity and throw money away on rent, but home values in Denver are set to increase over 8% this year alone!
The Cost of Waiting to Buy is defined as the additional funds it would take to buy a home if prices & interest rates were to increase over a period of time.
Freddie Mac predicts interest rates to rise to 4.4% by next year.
CoreLogic predicts home prices to appreciate by 5.0% over the next 12 months.