Indecision May Cost More

“More has been lost due to indecision than was ever lost to making the wrong decision.”

Interest rates have as much effect on housing costs as price and when they are both

trending upward, it can be very expensive to wait.

There can be some legitimate reasons for postponing a purchase such as needing to

save the down payment, improve your credit or waiting to find out about a possible transfer.

The problem is that prices and interest rates could, and very likely will, go up in the future.

 

If the price of $250,000 home went up 5% and the interest rate went from 4.5% to 5.25%,

the payments would increase by $176.42. The additional cost over a seven-year period

would be close to $15,000.

 

The questions that indecisive buyers need to ask themselves is “how am I going to feel

knowing that if I had not waited, I could have been living in the home for less money?” and

“What would I have spent the money on if I didn’t have to make the larger payment?”

 

Use the Cost of Waiting to Buy calculator to find out how much indecision may be costing

you.