Why Interest Rates Shouldn’t Be Scaring Homebuyers – With over 25+ of experience in the Raleigh, Durham, Cary, and Chapel Hill, North Carolina areas, Real Estate Broker Amy Shair knows what it takes to get the job done and make the process simple and fun.
Here are 3 reasons why high mortgage interest rates should not be scaring homebuyers:
1) Prices are continuing to increase in the Triangle NC area. Home values have been appreciating in 2023 and are expected to continue at a modest rate. There is no price crash coming in the NC housing market. People waiting for the market to correct or go down are making a mistake.
2) Waiting to save money toward a home purchase doesn’t work right now. Rents are very high, and even if you have a free place to stay, you may be paying to store your furniture, and you are likely paying more for commuting and other costs. It makes sense to buy now and gain appreciation in the value of the home you buy.
3) There are options to help get the best interest rate you can on a mortgage today:
- You can use some of your money to buy the rate down.
- You may be able to get the seller or builder to pay to buy down your interest rate.
- You can also get an adjustable-rate mortgage (ARM) to get a lower rate for now.
You can always refinance your mortgage when rates come down.
Buying now is better to get control over your housing situation.
If you need help reviewing your mortgage and homebuying options, reach out to me at 919-818-5001 (call/text) or amy@amyshair.com No matter the state of the market, working with a trusted and experienced real estate agent can make all the difference in your house hunt. With over 25 years of experience in the Triangle market, Amy Shair has the expertise to help you find your dream home!
Find Amy’s contact information here.
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