Remove your agent hat for a moment. What are your thoughts on renting in FV and waiting to buy until rates come down somewhat and for the recession fears to pass? I'm talking 2-3 years. I know no one can predict the future, but it seems irresponsible for me to get a 30 year mortgage at 7% on a 2500 sqft home for 500k. Refinancing is costly. Thanks for your thoughts; I love the vid.
Great question and appreciate you asking it. First, my advice to anyone considering buying their first home is to make sure they are ready and comfortable with doing so. Buying is a huge investment both financially but also emotionally and you need to be sure you are prepared for all aspects of home ownership. That being said, in today's market there are a ton of different loan products out there that can help offset some of the costs of the higher rates and the closing costs. Additionally, if you were buying today, I would make sure the agent you work with advises you on to structure your offer to receive seller paid closing costs. For me personally, if I were buying a first home, I would rather pay a slightly higher purchase price but receive seller paid closing costs because that is cash in hand today. I can also use those closing costs to buy down my rate to a lower rate. Finally, when it comes to this decision, as long as you are making an investment in a place like Fuquay Varina, remember that net migration in Wake County is 56 people per day. If you can afford the house today and expect the value to appreciate, the cost to refinance is going to be lower than the higher price you will pay in 2-3 years. Give me a call if you want to talk about it more.
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Remove your agent hat for a moment. What are your thoughts on renting in FV and waiting to buy until rates come down somewhat and for the recession fears to pass? I'm talking 2-3 years. I know no one can predict the future, but it seems irresponsible for me to get a 30 year mortgage at 7% on a 2500 sqft home for 500k. Refinancing is costly. Thanks for your thoughts; I love the vid.
Great question and appreciate you asking it. First, my advice to anyone considering buying their first home is to make sure they are ready and comfortable with doing so. Buying is a huge investment both financially but also emotionally and you need to be sure you are prepared for all aspects of home ownership. That being said, in today's market there are a ton of different loan products out there that can help offset some of the costs of the higher rates and the closing costs. Additionally, if you were buying today, I would make sure the agent you work with advises you on to structure your offer to receive seller paid closing costs. For me personally, if I were buying a first home, I would rather pay a slightly higher purchase price but receive seller paid closing costs because that is cash in hand today. I can also use those closing costs to buy down my rate to a lower rate. Finally, when it comes to this decision, as long as you are making an investment in a place like Fuquay Varina, remember that net migration in Wake County is 56 people per day. If you can afford the house today and expect the value to appreciate, the cost to refinance is going to be lower than the higher price you will pay in 2-3 years. Give me a call if you want to talk about it more.
Fuquay is very fast growing city. Competing with Cary
Nice video. Fuquay is getting up there in housing cost
It absolutely is! Though you might be surprised that compared to the surrounding suburbs it's still considered "affordable".
My name is Varina!
What a coincidence!
Too much traffic!
We’re doomed