The San Diego real estate market is diverse with both buyers and sellers alike seeking a variety of different properties. As a prospective seller, you can find out the market value of your property with a free home value report right here, or if you're looking to purchase in the San Diego area click here for full MLS access. Always feel free to reach out to us for any questions regarding the current market conditions, or the value of your property at 619.977.8364.
Owning a home is like having a forced saving account. Both the price of the home and the cost of the mortgage are crucial things to consider when buying a home, and currently, both appear to be on the rise. If you have a growing family, want to make renovations, put personal touches on your home, or simply want to stop paying off your landlord's mortgage, it might make sense to make your move sooner than later.
Are you on the fence about buying a new home? Today, we want to give you a few tips to help you determine the best time to make your move.
If you're thinking about buying this year, it makes more sense to buy now than in the spring, especially if you're ready. Experts are predicting that prices will continue to appreciate - over the next five years, estimates range from 15% to 32%.
Mortgage rates are expected to rise as well, which will lower the affordability of homes in the San Diego area. While rates softened at the end of 2014 and the beginning of this year, the consensus is that interest rates will rise throughout the year, possibly by as much as one percent.
If you're still weighing whether you should rent or buy, remember that regardless of which you choose, you are always paying a mortgage. The question is: Do you want to pay your own mortgage and build your own equity, or pay the landlord's mortgage and build their equity? If you pay your own mortgage, you have the benefit of tax deductions.
Owning a home is like having a forced saving account. Both the price of the home and the cost of the mortgage are crucial things to consider when buying a home, and currently, both appear to be on the rise. If you have a growing family, want to make renovations, put personal touches on your home, or simply want to stop paying off your landlord's mortgage, it might make sense to make your move sooner than later.
If you have any questions, or need real estate assistance of any kind, please don't hesitate to give us a call or shoot us an email. We would love to help you!
