Cost of Waiting for Prices to Drop With Rising Interest Rates

There are immediate considerations to take as waiting for prices to drop may come with a price. In a particular scenario, a house may cost less than the original amount in two years - let's say it happened to drop from $1,000,000 to $900,000. However, the interest rates will offset a $100,000 price drop by costing you $30,000 MORE in costs. We compare the same $200,000 down payment but with a mortgage of $100,000 less with a hypothetical home bought at $100,000 less. With rising interest rates and time pressure in mind, there are certain trade-offs when it comes to waiting for these home prices to drop. There are no assurances that mortgage amounts will decrease throughout time, wherein customers should learn their ideal scenario based on their financial capacities. Get in touch to learn how to handle these rate hikes! Book a meeting with me to walk through the numbers: https://bit.ly/BookYouxPaul Paul Davidescu (www.levelupmortgages.com) Level Up Mortgages 604-809-3188 paul@levelupmortgages.com See Our Google Reviews in BC & Ontario: https://bit.ly/ViewLUMReviews ⭐️⭐️⭐️⭐️⭐️ Talk to us or if you want some quick replies, connect with our Facebook Messenger Bot: http://bit.ly/MyMortgageBot Got Mortgage Questions? Trying not to freak out about something that’s stressing you out? We got you 🙋🏽‍♂️🙋‍♀️ + Get immediate answers on your mortgage questions with our FAQ Page 👉https://bit.ly/mortgagefaq + Email me and check out our website: paul(at)levelupmortgages.com | www.levelupmortgages.com 👨🏽‍💻 + DM me on Instagram if you want to get more personal 📱 https://www.instagram.com/levelupyour... + Get LinkedIn if you want to check our credentials 😎 https://www.linkedin.com/in/pauldavid... + Tweet at me if you hang out there 🐦 https://twitter.com/levelupmortgage + Check updates on our blog to do a deep dive 🔎https://www.levelupmortgages.com/blog + Subscribe to Level Up Mortgages YouTube Account: http://bit.ly/LevelUpYouTubeSubscribe