Shoud You Buy a House NOW?
With prices increasing in the DC area for several years now, and many buyers being priced out of some neighborhoods, buyers are asking us daily, should I just wait out the market? Is now the right time to buy? Well, putting aside the philosophical question if it is a wise idea to ask a surgeon if you should get a surgery... Let me explain the most important reason you should buy now!
Low Interest Rates
Interest rates today have (almost) never been lower. If you have good credit and a decent downpayment you can borrow money at a rate lower than most countries... Really! look it up.
Let's do the math:
If you purchase a home today and finance a $500,000 mortgage with a 30 year, fixed loan at 3.75%, the principal and