3 Things to Consider When Buying a Home

1. Is this a Good Time to Buy? The $64,000 question! You may be too young to remember that show from the fifties but the winning answer is YES. Prices may or may not continue to fall but interest rates are projected to rise according to Fannie Mae, Freddie Mac, NAR (National Association of REALTORS), PMI and the Mortgage Bankers Association. Over the lifetime of a loan, you may spend much more on interest that a small variation in purchase price. Check with your lender to find out what you may qualify for and how the rising interest rates could effect your monthly payment and lifetime commitment.

2. How Quickly Will My Home Appreciate? From time to time the real estate market experiences a sudden surge but usually it's a steady growth. According to REALTOR magazine, projections from NAR and Macro Markets LLC show prices will begin to rise nationally in the second quarter of 2011 and appreciate 10% between 2011 and 2015.

3. Is It Better to Buy Than to Rent? The Fannie Mae National Housing Survey shows that the top reasons that people purchase a home are because they want to provide a stable place to raise and educate their children, a place they will feel safe, for more living space and for control over that space. But for more practical reasons, read the blog I wrote which precedes this titled, The Benefits of Homeownership. I've been a homeowner for over 30 years so my answer would be a definite "YES."

I want to be your REALTOR. If you are thinking of selling a house, give me a call. I'm happy to answer any questions you may have about the seller's disclosure or other matters involving selling a home. 512. 589.7988.

If you are interested in finding out more about Austin, living in Austin, real estate or buying or selling a home in Austin, I want to be your REALTOR. And I appreciate your referrals as well. Call or email to find out how I can help you. 512.589.7988 or robin @robinscottrealtor.com

Austin, Texas. Robin Scott, BROKER. Certified Residential Specialist, Accredited Buyer's Representative, Seller's Representative Specialist. 512.589.7988.
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Buying or selling? Hire an experienced professional. Call Robin Scott, Broker at 512.589.7988.

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