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Cost of Waiting and Potential Buyers

Tuesday tip of the day the newcomer group

Cost of Waiting

Are you worried about buying at the peak of the market? I would argue there’s always going to be a cost, whether it’s buying or waiting; right now in this market, I can tell you waiting to buy is definitely not going to outweigh doing something. The next three months are some of the most important times to be making a purchase and locking into that 30-year fixed. With a 7 appreciation expected in 2022, and mortgage rates right at 3 percent, with a 7% jump next year, and rates going up a point maybe even a half a point – you’re talking $300 a month extra by waiting. Listen, if you want to keep renting, that’s your decision. But I can tell you buying a home right now could be one of the best decisions you’ve ever made there’s a cost to waiting.

Potential Buyers

If you are a potential seller that wants to be a potential buyer, your biggest problem is, “I don’t really want to sell, but I need to sell in order to tap into the equity to go buy that other property.” Does that sound like you? If so, I want to maybe help you think differently.

I’m a big advocate for people:

  • Buying real estate,
  • Holding real estate,
  • Leveraging that real estate,
  • To buy more real estate.

If you’ve bought within the last 2-5 years, you can do what’s called a cash-out refi: borrow money against your home tax-free and go and purchase another investment property while keeping the current property.

We’ve got some amazing lender partnerships, and if this is something you want to explore or learn a little bit more about, I want to help. The goal is to keep you moving and keep helping you purchase property to experience financial freedom through real estate. Let me know how The Newcomer Group can help today.

-Luke Newcomer

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