Welcome to DL Miller Construction : Distinct Living : Experience the Difference!

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Welcome to Our Website www.dlmillerconstruction.com

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To buy or not to buy, here are a few tips!

Why Buy NOW?

Q : Should I wait to buy a home until interest rates go down further?

Interest rates currently stand at about 6.4 percent and are extremely favorable for buyers. In fact, they are hovering near 30-year lows. But waiting to time the market can be a dangerous and losing game. Even those who follow the market for a living can't figure out when interest rates will bottom out. Because interest rates are near historic lows, it is much more likely that they will head higher in the future as opposed to moving even lower.

And home prices don't necessarily move in unison with interest rates. So, if you decide to roll the dice and wait to purchase a home, you could still end up losing money. How? If interest rates were to move up a half-a-point during this period, the savings on the reduced home price would be more than offset by the higher monthly payment you would be making over the life of the loan. In short, the smartest and safest time to buy is now.

Q : As a first-time homebuyer, should I wait until prices go lower to buy a home?

Even as home prices are currently moderating, or even falling in some areas, rents continue to climb. The best way to build household wealth is to own a home. Once you become a homeowner, you are able to build equity in your property. As your property builds in equity, you can use those gains to sell your starter home and afford to move into a bigger home.

Remember, the sooner you make the jump from renter to home owner, the quicker you begin to create and build up wealth for your family.

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