With Rates & Prices on the Rise, Do You Know the True Cost of Waiting?
A great perspective is this on how to break down the opportunity that exists now for Millennials who are willing and able to purchase a home NOW... Here are a couple other ways to look at the cost of waiting. Let’s say your 30 and your dream house costs $250,000 today, at 4.41% your monthly Mortgage Payment with Interest would be $1,253.38 . But you’re busy, you like your apartment, moving is such a hassle...You decide to wait till the end of next year to buy and all of a sudden, you’re 31, that same house is $270,000 , at 5.7% . Your new payment per month is $1,567.08 . The difference in payment is $313.70 PER MONTH! That’s like taking a $10 bill and tossing it out the window EVERY DAY! Or you could look at it this way: § That’s your morning coffee everyday on the way to work (Average $2) with $12 left for lunch! § There goes Friday Sushi Night! ($80 x 4) § Stressed Out? How about 3 deep tissue massages with tip! § Need a new car? You could get a brand new $2...