[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$f14j5l1aponnbz":3,"$ffeh0925h8cuz":51,"$fbwk2pqjjqsc7":55},{"item":4,"previous":39,"next":45},{"id":5,"slug":6,"title":7,"description":8,"excerpt":8,"contentType":9,"featuredImage":10,"bannerImage":11,"body":12,"agentsBottomLine":13,"bodyImage":14,"isInfographic":15,"categories":16,"isVideo":15,"videoThumbnail":11,"videoSource":11,"publishedAt":37,"updatedAt":38},1943,"key-questions-to-ask-yourself-before-buying-a-home","Key Questions To Ask Yourself Before Buying a Home","Sometimes it can feel like everyone has advice when it comes to buying a home. While your friends and loved ones may have your best interests in mind, they may also be missing \u003Cstrong>crucial information about today’s housing market that you need to make your best decision.\u003C\u002Fstrong>","blog","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2021\u002F07\u002F29160532\u002F20210802-KCM-Share.jpg","","Sometimes it can feel like everyone has advice when it comes to buying a home. While your friends and loved ones may have your best interests in mind, they may also be missing \u003Cstrong>crucial information about today’s housing market that you need to make your best decision.\u003C\u002Fstrong>\u003C!--more-->\r\n\r\nBefore you decide whether you’re ready to buy a home, you should know how to answer these three questions.\r\n\u003Ch4>\u003Cstrong>1. What’s Going on with Home Prices?\u003C\u002Fstrong>\u003C\u002Fh4>\r\nHome prices are one factor that directly impacts how much it will cost to buy a home and how much you stand to gain as a homeowner when prices appreciate.\r\n\r\nThe graph below shows just how much \u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002F2021\u002F07\u002F06\u002Fa-look-at-home-price-appreciation-through-2025\u002F\">experts\u003C\u002Fa> are forecasting prices to rise this year:\u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2021\u002F07\u002F20210802-MEM-Eng-1.png\">\u003Cimg class=\"aligncenter wp-image-44851\" src=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2021\u002F07\u002F20210802-MEM-Eng-1.png\" alt=\"Key Questions To Ask Yourself Before Buying a Home | Simplifying The Market\" width=\"650\" height=\"488\" \u002F>\u003C\u002Fa>Continued price appreciation is great news for \u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002F2021\u002F06\u002F18\u002Fowning-a-home-has-distinct-financial-benefits-over-renting-infographic\u002F\">existing homeowners\u003C\u002Fa> but\u003Cstrong> can pose a significant challenge if you \u003C\u002Fstrong>\u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002F2021\u002F07\u002F07\u002Fthe-truths-young-homebuyers-need-to-hear\u002F\">\u003Cstrong>wait to buy\u003C\u002Fstrong>\u003C\u002Fa>\u003Cstrong>. \u003C\u002Fstrong>Using these forecasts, you can determine just how much waiting could cost you. If prices increase based on the average of all forecasts (12.46%), a median-priced home that cost $350,000 in January of 2021 \u003Cstrong>will cost an additional $43,610 by the end of the year.\u003C\u002Fstrong> What does this mean for you? Put simply, with home prices increasing, \u003Cstrong>the longer you wait, the more it could cost you. \u003C\u002Fstrong>\r\n\u003Ch4>\u003Cstrong>2. Are Today’s Low Mortgage Rates Going To Last?\u003C\u002Fstrong>\u003C\u002Fh4>\r\nAnother significant factor that should inform your decision is mortgage interest rates. Today’s average rates remain close to record-lows. Much like prices, though, experts forecast rates will rise over the coming months, as the chart below shows:\u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2021\u002F07\u002F20210802-MEM-Eng-2.png\">\u003Cimg class=\"aligncenter wp-image-44852\" src=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2021\u002F07\u002F20210802-MEM-Eng-2.png\" alt=\"Key Questions To Ask Yourself Before Buying a Home | Simplifying The Market\" width=\"650\" height=\"488\" \u002F>\u003C\u002Fa>Your monthly mortgage payment can be significantly impacted by even the \u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002F2021\u002F07\u002F19\u002Fwhat-you-should-do-before-interest-rates-rise\u002F\">slightest increase\u003C\u002Fa> in mortgage rates, which makes the overall cost of the home greater over time when you wait.\r\n\u003Ch4>\u003Cstrong>3. Why Is Homeownership Important to You?\u003C\u002Fstrong>\u003C\u002Fh4>\r\nThe final question is a personal one. Before deciding, you’ll need to understand your motivation to buy a home and \u003Cem>why homeownership is an important goal for you.\u003C\u002Fem> The financial benefits of owning a home are often easier to account for than the many emotional ones.\r\n\r\nThe \u003Ca href=\"https:\u002F\u002F72nut3mk2z64bywh6c1thwjy-wpengine.netdna-ssl.com\u002Fwp-content\u002Fuploads\u002F2021\u002F06\u002FUSMI-National-Homeownership-Market-Survey-June-2021.pdf\">\u003Cem>2021 National Homeownership Market Survey\u003C\u002Fem>\u003C\u002Fa> shows that six of the nine reasons Americans value homeownership are because of how it impacts them on a personal, aspirational level. The survey says homeownership provides:\r\n\u003Cul>\r\n \t\u003Cli>\u003Cem>Stability\u003C\u002Fem>\u003C\u002Fli>\r\n \t\u003Cli>\u003Cem>Safety\u003C\u002Fem>\u003C\u002Fli>\r\n \t\u003Cli>\u003Cem>A Sense of Accomplishment\u003C\u002Fem>\u003C\u002Fli>\r\n \t\u003Cli>\u003Cem>A Life Milestone\u003C\u002Fem>\u003C\u002Fli>\r\n \t\u003Cli>\u003Cem>A Stake in the Community\u003C\u002Fem>\u003C\u002Fli>\r\n \t\u003Cli>\u003Cem>Personal Pride\u003C\u002Fem>\u003C\u002Fli>\r\n\u003C\u002Ful>\r\nThe \u003Ca href=\"https:\u002F\u002Fwww.neighborworks.org\u002Fgetattachment\u002F73023399-4bb0-4d98-b2f8-8a3aa940d065\u002Fattachment.aspx\">\u003Cem>National Housing & Financial Capability Survey\u003C\u002Fem>\u003C\u002Fa> from \u003Cem>NeighborWorks America\u003C\u002Fem> also highlights the emotional benefits of homeownership:\u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2021\u002F07\u002F20210802-MEM-Eng-3.png\">\u003Cimg class=\"aligncenter wp-image-44853\" src=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2021\u002F07\u002F20210802-MEM-Eng-3.png\" alt=\"Key Questions To Ask Yourself Before Buying a Home | Simplifying The Market\" width=\"650\" height=\"488\" \u002F>\u003C\u002Fa>Clearly, there’s a value to \u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002F2021\u002F05\u002F03\u002Famericans-find-the-nonfinancial-benefits-of-homeownership-most-valuable\u002F\">homeownership\u003C\u002Fa> beyond the many great financial opportunities it provides. It gives homeowners a sense of pride, safety, security, and accomplishment – which impacts their lives and how they feel daily.\r\n\u003Ch3>\u003Cstrong>Bottom Line\u003C\u002Fstrong>\u003C\u002Fh3>\r\nHomeownership is life-changing, and buying a home can positively impact you in so many ways. With any decision this big, it helps to have a trusted advisor by your side each step of the way. If you’re ready to begin your journey toward homeownership, let’s connect to discuss your options and begin your journey.","\r\nHomeownership is life-changing, and buying a home can positively impact you in so many ways. With any decision this big, it helps to have a trusted advisor by your side each step of the way. If you’re ready to begin your journey toward homeownership, let’s connect to discuss your options and begin your journey.","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2021\u002F07\u002F20210802-MEM-Eng-1.png",false,[17,21,25,29,33],{"id":18,"name":19,"slug":20},5,"For Buyers","buyers",{"id":22,"name":23,"slug":24},9,"Home Prices","home-prices",{"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","2021-08-02T10:00:28Z","2021-08-04T13:32:49Z",{"id":40,"slug":41,"title":42,"featuredImage":43,"publishedAt":44,"contentType":9,"isVideo":15},1942,"waiting-to-buy-a-home-could-cost-you-infographic","Waiting To Buy a Home Could Cost You [INFOGRAPHIC]","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2021\u002F07\u002F29150309\u002F20210730-KCM-Share.png","2021-07-30T10:00:43Z",{"id":46,"slug":47,"title":48,"featuredImage":49,"publishedAt":50,"contentType":9,"isVideo":15},3553,"with-rents-on-the-rise-is-now-the-time-to-buy","With Rents on the Rise – Is Now the Time To Buy?","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2021\u002F07\u002F30144312\u002F20210803-KCM-Share.jpg","2021-08-03T10:00:53Z",{"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",[56,60,61,65,69,73,74,75,79,80,81,85,89,93,97,101,105,109,113,117,121,125,129,133,137,141,145,149,153,157],{"id":57,"name":58,"slug":59},1,"Uncategorized","uncategorized",{"id":18,"name":19,"slug":20},{"id":62,"name":63,"slug":64},6,"For Sellers","sellers",{"id":66,"name":67,"slug":68},7,"Foreclosures","foreclosures",{"id":70,"name":71,"slug":72},8,"Infographics","infographics",{"id":22,"name":23,"slug":24},{"id":26,"name":27,"slug":28},{"id":76,"name":77,"slug":78},34,"Senior Market","senior-market",{"id":30,"name":31,"slug":32},{"id":34,"name":35,"slug":36},{"id":82,"name":83,"slug":84},41,"For Sale by Owner","for-sale-by-owner",{"id":86,"name":87,"slug":88},42,"Featured","featured",{"id":90,"name":91,"slug":92},45,"New Construction","new-construction",{"id":94,"name":95,"slug":96},52,"Luxury \u002F Vacation","luxury--vacation",{"id":98,"name":99,"slug":100},53,"Rent vs. Buy","rent-vs-buy",{"id":102,"name":103,"slug":104},80,"Time-sensitive","time-sensitive",{"id":106,"name":107,"slug":108},81,"Outdated","outdated",{"id":110,"name":111,"slug":112},147,"Internal","internal",{"id":114,"name":115,"slug":116},148,"Do Not Autopost","do-not-autopost",{"id":118,"name":119,"slug":120},320,"Inventory","inventory",{"id":122,"name":123,"slug":124},321,"Agent Value","agent-value",{"id":126,"name":127,"slug":128},322,"Affordability","affordability",{"id":130,"name":131,"slug":132},323,"Buying Tips","buying-tips",{"id":134,"name":135,"slug":136},324,"Downsize","downsize",{"id":138,"name":139,"slug":140},325,"Economy","economy",{"id":142,"name":143,"slug":144},326,"Equity","equity",{"id":146,"name":147,"slug":148},327,"Forecasts","forecasts",{"id":150,"name":151,"slug":152},328,"Selling Tips","selling-tips",{"id":154,"name":155,"slug":156},339,"Expired\u002FWithdrawn\u002FCanceled","expiredwithdrawncanceled",{"id":158,"name":159,"slug":160},340,"Price It Right\u002FOverpricing","price-it-rightoverpricing"]