[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$fo3on0sm54unq":3,"$ffeh0925h8cuz":51,"$f2emv3tus0uf1":55,"$fbwk2pqjjqsc7":59},{"item":4,"previous":39,"next":45},{"id":5,"slug":6,"title":7,"description":8,"excerpt":9,"contentType":10,"featuredImage":11,"bannerImage":9,"body":12,"agentsBottomLine":13,"bodyImage":14,"isInfographic":15,"categories":16,"isVideo":15,"videoThumbnail":9,"videoSource":9,"publishedAt":37,"updatedAt":38},1324,"3-questions-you-need-to-ask-before-buying-a-home","3 Questions You Need To Ask Before Buying A Home ","If you are debating purchasing a home right now, you are probably getting a lot of advice. Though your friends and family have your best interests at heart, they may not be fully aware of your needs and what is currently happening in the real estate market.","","blog","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2019\u002F04\u002F01103153\u002F20190415-Share-KCM.jpg","If you are debating purchasing a home right now, you are probably getting a lot of advice. Though your friends and family have your best interests at heart, they may not be fully aware of your needs and what is currently happening in the real estate market.\u003C!--more-->\r\n\r\nAsk yourself the following three questions to help determine if now is a good time for you to buy in today’s market.\r\n\u003Ch4>\u003Cstrong>1. Why am I buying a home in the first place?\u003C\u002Fstrong>\u003C\u002Fh4>\r\nThis is truly the most important question to answer. Forget the finances for a minute. Why did you even begin to consider purchasing a home? For most, the reason has nothing to do with money.\r\n\r\nFor example, a \u003Ca href=\"https:\u002F\u002Fwww.realtor.com\u002Fnews\u002Ftrends\u002Fhome-buyers-sacrifice-for-good-schools\u002F\">study\u003C\u002Fa> by \u003Cem>realtor.com\u003C\u002Fem> found that “\u003Cem>73% said buying in a good school district was “important” in their search.\u003C\u002Fem>”\r\n\r\nThis report supports a study by the \u003Cem>Joint Center for Housing Studies at Harvard University\u003C\u002Fem> which revealed that the top four reasons Americans buy a home have nothing to do with money. The actual reasons are:\r\n\u003Cul>\r\n \t\u003Cli>A good place to raise children and provide them with a good education\u003C\u002Fli>\r\n \t\u003Cli>A place where you and your family feel safe\u003C\u002Fli>\r\n \t\u003Cli>More space for you and your family\u003C\u002Fli>\r\n \t\u003Cli>Control of that space\u003C\u002Fli>\r\n\u003C\u002Ful>\r\nWhat does owning a home mean to you? What non-financial benefits will you and your family gain from owning a home? The answer to that question should be the biggest reason you decide to purchase or not.\r\n\u003Ch4>\u003Cstrong>2. Where are home values headed?\u003C\u002Fstrong>\u003C\u002Fh4>\r\nAccording to the latest \u003Ca href=\"https:\u002F\u002Fwww.nar.realtor\u002Fnewsroom\u002Fexisting-home-sales-surge-11-8-percent-in-february\">\u003Cem>Existing Home Sales Report\u003C\u002Fem>\u003C\u002Fa> from the \u003Cem>National Association of Realtors \u003C\u002Fem>(NAR), the median price of homes sold in February (the latest data available) was $249,500. This is up 3.6% from last year. The increase also marks the 84th consecutive month with year-over-year gains.\r\n\r\nLooking at home prices year over year, \u003Cem>CoreLogi\u003C\u002Fem>c is \u003Ca href=\"https:\u002F\u002Fwww.corelogic.com\u002Finsights-download\u002Fhome-price-index.aspx\">forecasting\u003C\u002Fa> an increase of 4.6%. In other words, a home that costs you $250,000 today will cost you an additional $11,500 if you wait until next year to buy it.\r\n\u003Ch4>\u003Cstrong>What does that mean to you?\u003C\u002Fstrong>\u003C\u002Fh4>\r\nSimply put, with prices increasing, it may cost you more if you wait until next year to buy. Your down payment will also need to be higher in order to account for the higher price of the home you wish to buy.\r\n\u003Ch4>\u003Cstrong>3. Where are mortgage interest rates headed?\u003C\u002Fstrong>\u003C\u002Fh4>\r\nA buyer must be concerned about more than just prices. The ‘\u003Cem>long-term cost’\u003C\u002Fem> of a home can be dramatically impacted by even a small increase in mortgage rates.\r\n\r\n\u003Ca href=\"http:\u002F\u002Fwww.freddiemac.com\u002Fresearch\u002Fforecast\u002F\">\u003Cem>Freddie Mac\u003C\u002Fem>\u003C\u002Fa>\u003Cem>, \u003C\u002Fem>\u003Ca href=\"http:\u002F\u002Fwww.fanniemae.com\u002Fresources\u002Ffile\u002Fresearch\u002Femma\u002Fpdf\u002FHousing_Forecast_032019.pdf\">\u003Cem>Fannie Mae\u003C\u002Fem>\u003C\u002Fa>\u003Cem>, \u003C\u002Fem>the \u003Ca href=\"https:\u002F\u002Fwww.mba.org\u002FDocuments\u002FResearch\u002FMortgage%20Finance%20Forecast%20Mar%202019.pdf\">\u003Cem>Mortgage Bankers Association\u003C\u002Fem>\u003C\u002Fa> and \u003Ca href=\"https:\u002F\u002Fwww.nar.realtor\u002Fsites\u002Fdefault\u002Ffiles\u002Fdocuments\u002Fforecast-04-2019-us-economic-outlook-03-28-2019.pdf\">NAR\u003C\u002Fa> have all projected that mortgage interest rates will increase over the next twelve months, as you can see in the chart below:\r\n\r\n\u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2019\u002F04\u002F20190415-ENG-MEM.jpeg\">\u003Cimg class=\"aligncenter wp-image-39400\" src=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2019\u002F04\u002F20190415-ENG-MEM.jpeg\" alt=\"3 Questions You Need To Ask Before Buying A Home | Simplifying The Market\" width=\"650\" height=\"488\" \u002F>\u003C\u002Fa>\r\n\u003Ch3>\u003Cstrong>Bottom Line\u003C\u002Fstrong>\u003C\u002Fh3>\r\nOnly you and your family will know for certain if now is the right time to purchase a home. Answering these questions will help you make that decision.","\r\nOnly you and your family will know for certain if now is the right time to purchase a home. Answering these questions will help you make that decision.","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2019\u002F04\u002F20190415-ENG-MEM.jpeg",false,[17,21,25,29,33],{"id":18,"name":19,"slug":20},5,"For Buyers","buyers",{"id":22,"name":23,"slug":24},6,"For Sellers","sellers",{"id":26,"name":27,"slug":28},11,"First-Time Buyers","first-time-buyers",{"id":30,"name":31,"slug":32},35,"Mortgage Rates","mortgage-rates",{"id":34,"name":35,"slug":36},38,"Move-Up","move-up","2019-04-15T10:00:49Z","2019-04-01T15:20:08Z",{"id":40,"slug":41,"title":42,"featuredImage":43,"publishedAt":44,"contentType":10,"isVideo":15},1323,"slaying-the-largest-homebuying-myths-today-infographic","Slaying the Largest Homebuying Myths Today [INFOGRAPHIC]","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2019\u002F04\u002F03142838\u002F20190412-Share-KCM.jpg","2019-04-12T10:00:54Z",{"id":46,"slug":47,"title":48,"featuredImage":49,"publishedAt":50,"contentType":10,"isVideo":15},1325,"homeowners-now-is-a-good-time-to-sell-your-house","Homeowners: Now Is A Good Time To Sell Your House","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2019\u002F04\u002F02110008\u002F20190416-Share-KCM.jpg","2019-04-16T10:00:44Z",{"cover":52,"open":53,"shareSpread":54},"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Cover-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Spread-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Magazine-original.png",{"cover":56,"open":57,"shareSpread":58},"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Sellers-Guide-Cover-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Sellers-Guide-Spread-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Sellers-Guide-Magazine-original.png",[60,64,65,66,70,74,78,79,83,84,85,89,93,97,101,105,109,113,117,121,125,129,133,137,141,145,149,153,157,161],{"id":61,"name":62,"slug":63},1,"Uncategorized","uncategorized",{"id":18,"name":19,"slug":20},{"id":22,"name":23,"slug":24},{"id":67,"name":68,"slug":69},7,"Foreclosures","foreclosures",{"id":71,"name":72,"slug":73},8,"Infographics","infographics",{"id":75,"name":76,"slug":77},9,"Home Prices","home-prices",{"id":26,"name":27,"slug":28},{"id":80,"name":81,"slug":82},34,"Senior Market","senior-market",{"id":30,"name":31,"slug":32},{"id":34,"name":35,"slug":36},{"id":86,"name":87,"slug":88},41,"For Sale by Owner","for-sale-by-owner",{"id":90,"name":91,"slug":92},42,"Featured","featured",{"id":94,"name":95,"slug":96},45,"New Construction","new-construction",{"id":98,"name":99,"slug":100},52,"Luxury \u002F Vacation","luxury--vacation",{"id":102,"name":103,"slug":104},53,"Rent vs. Buy","rent-vs-buy",{"id":106,"name":107,"slug":108},80,"Time-sensitive","time-sensitive",{"id":110,"name":111,"slug":112},81,"Outdated","outdated",{"id":114,"name":115,"slug":116},147,"Internal","internal",{"id":118,"name":119,"slug":120},148,"Do Not Autopost","do-not-autopost",{"id":122,"name":123,"slug":124},320,"Inventory","inventory",{"id":126,"name":127,"slug":128},321,"Agent Value","agent-value",{"id":130,"name":131,"slug":132},322,"Affordability","affordability",{"id":134,"name":135,"slug":136},323,"Buying Tips","buying-tips",{"id":138,"name":139,"slug":140},324,"Downsize","downsize",{"id":142,"name":143,"slug":144},325,"Economy","economy",{"id":146,"name":147,"slug":148},326,"Equity","equity",{"id":150,"name":151,"slug":152},327,"Forecasts","forecasts",{"id":154,"name":155,"slug":156},328,"Selling Tips","selling-tips",{"id":158,"name":159,"slug":160},339,"Expired\u002FWithdrawn\u002FCanceled","expiredwithdrawncanceled",{"id":162,"name":163,"slug":164},340,"Price It Right\u002FOverpricing","price-it-rightoverpricing"]