What If I Wait Until Next Year To Buy A Home For Sale In Bergen County NJ

Dated: 05/11/2018

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What If I Wait Until Next Year to Buy a Home In Bergen County, NJ ?

What If I Wait Until Next Year to Buy a Home? | Bergen County Homes for Sale

Houses for sale in Bergen County , NJ continue to experience a sellers market particularly in the entry to middle level homes.  It's extremely important to find an agent that knows the market and knows how to negotiate for you because houses today are receiving 5+ offers each. 

Now let's talk about What If I wait until next year to buy a home?

We recently shared that national home prices have increased by 6.7% year-over-year. Over that same time period, interest rates have remained historically low which has allowed many buyers to enter the market.

As a seller, you will likely be most concerned about ‘short-term price’ – where home values are headed over the next six months. As a buyer, however, you must not be concerned about price, but instead about the ‘long-term cost’ of the home.

The Mortgage Bankers Association (MBA), Freddie Mac, and Fannie Mae all project that mortgage interest rates will increase by this time next year. According to CoreLogic’s most recent Home Price Index Reporthome prices will appreciate by 5.2% over the next 12 months.

What Does This Mean as a Buyer?

If home prices appreciate by 5.2% over the next twelve months as predicted by CoreLogic, here is a simple demonstration of the impact that an increase in interest rate would have on the mortgage payment of a home selling for approximately $250,000 today:

What If I Wait Until Next Year to Buy a Home? | MyKCM

Bottom Line

If buying a home is in your plan for this year, doing it sooner rather than later could save you thousands of dollars over the terms of your loan.


Source.. KCM Emily Millan Blog


If you have any questions about the Bergen County, NJ don’t hesitate to give us a call at 646-256-2214. We will be happy to help you. 


To reach us, please call 646-256-2214 

Or send us an email to: [email protected]   


Thinking of selling your home? Let Emily take over the marketing of your property for you.

 HomeValuesInNJ.com-   Call or Text  646-256-2214 of for more information. 



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