Considering Moving up to a New Home in Indianapolis? It's Time to Take the Plunge!
It's a fantastic time to consider moving up! In fact we're surprised more people aren't taking advantage of this "perfect storm" for move-up buyers in the Indianapolis area. Here are some things to keep in mind about the current market:
- Homes for sale that are in excellent condition, show really nice and are priced appropriate for the local Indianapolis market are selling
- With interest rates at a record low - many people can buy significantly more house for the same monthly payment as they could, even just a year or two ago, when rates were say 6%.
On a $300,000 mortgage the payment at 4% the monthly P&I is $1432, at 6% that same mortgage is $1799. That's $367 every month for as long as you own the home! If you're planning on staying put for awhile, the savings can be significant.
- It's necessary to price the home you're selling to reflect the current market - but you're also buying at a discounted price and if you're moving up - you win! Anything you lose on the sell side, you more than make up on the buy side.
- The rates are being held artificially low right now, but as soon as the economy and housing market shows signs of recovery, rates will start climbing -- right along with the prices.
- Is new construction an option? If so, builders are offering some fantastic incentives right now.
This short video does a great job of explaining the unique opportunities the current market has for move-up buyers in the Indianapolis real estate market: http://youtu.be/uxOaf8235Rs
Don't be left watching from shore -- the water's great -- take the plunge!
originally posted by The Hoagland Group on Active Rain Blog
Unless otherwise noted, blogs are authored by Tonda or Steve Hoagland