Our top five reasons to buy now!
Affordability: Loan rates have been locked in by buyers as low as 4% in the past month. Interest rates have climbed from around 3.5% last year to an average of 4.25% right now, and are predicted to continue to slowly climb.
It’s a better investment than renting: The average rent per one bedroom is $1,850 in a neighborhood like Adams Morgan. The average sales price in that neighborhood is $578,774.00 With a 4% interest rate on a conventional loan and putting 20% down, the monthly mortgage payment is $2,210.41. The year-over-year increase in sales price is 20% in that neighborhood! If sales continue on that trend the same home could be sold for $694,528.80 next year.
Long-term growth potential: The…
