For Buyers Only Realty

  • Home
  • City Search
    • St Augustine
    • Anastasia Island
    • Vilano Beach
    • Saint Johns
    • Ponte Vedra/Nocatee
    • Ponte Vedra Beach
  • Neighborhoods
    • St Augustine
      • St Augustine NW 32092
        • SilverLeaf
        • SR 16 or Pacetti Road Area
          • Arbor Mill
          • Wards Creek at Arbor Mill
          • Ashley Oaks
          • Gran Lake
          • Grand Oaks
          • Murabella
          • Park Place
          • Trailmark
          • Samara Lakes
          • Sevilla
          • Tomoka Pines
          • Windward Ranch
        • 210 Corridor
          • Johns Creek
          • Shearwater
          • St Johns Golf and Country Club
          • Stonehurst
        • World Golf Village
          • Isles of The World in World Golf Village
          • Cottages at Glenmoor in World Golf Village
          • Greenside at World Golf Village
          • King and Bear in World Golf Village
          • Legacy Trail in World Golf Village
        • Near The River on SR 13
          • Heritage Landing
          • Colee Cove Landing
          • Riverdale
      • St Augustine NE 32095
        • Bannon Lakes
        • Beacon Lake
        • Chasewood
        • Coastal Village
        • Creekside At Twin Creeks
        • Istoria
        • Las Calinas
        • Madeira
        • Markland
        • Palencia
        • Sandy Creek
      • St Augustine South 32086
        • A-K
          • Andalusia
          • Arbors at Valencia
          • Ashby Landing
          • Castine Cove
          • Coronado
          • Crescent Key
          • Deerfield Meadows
          • Deerfield Preserve
          • Entrada
          • Heartwood
          • Governors Plantation
          • Kings Trace
        • L-Z
          • Lakewood Pointe
          • Moses Creek
          • Moultrie Woods
          • Oakbrook
          • Rock Springs Farms
          • Sawmill Landing
          • San Savino
          • St Augustine Shores
          • Sea Pines
          • Treaty Oaks
          • Villages of Valencia
        • Townhomes and Condos
          • Cypress Bay Townhomes
          • Grand Ravine Condos
      • St Augustine Central 32084
        • Coquina Ridge
        • Heritage Park
        • Olde Florida
        • Old Sebastian Point
        • Prairie Lakes
        • Royal St Augustine
        • San Salito
        • Sebastian Cove
        • Villa Calissa Harbour Residences
      • Active Adult 55+
        • Bridge Bay At Bannon Lakes
        • San Salito Freedom
        • Parkland Preserve
        • Villages of Seloy
        • Cascades in World Golf Village
        • Reverie at Trailmark
    • Saint Johns 32259
      • A – L
        • Aberdeen
        • Bartram Plantation
        • Bayside
        • Beachwalk
        • Celestina
        • Cimarrone
        • The Colony At Greenbriar
        • Cunningham Creek
        • Durbin Creek Estates
        • Durbin Crossing
        • Julington Creek
        • Julington Lakes
      • M – Z
        • Magnolia Preserve
        • Mill Creek Plantation
        • Oak Harbour
        • Oxford Estates
        • Preserve at St Johns
        • Reserve At Greenbriar
        • River Oaks
        • Rivertown
        • Riverside At Rivertown
        • St Johns Forest
        • Stone Creek
        • Whitelock Farms
        • Worthington Park
      • Active Adult 55+
        • WaterSong at RiverTown
    • Nocatee/ Ponte Vedra
      • Twenty Mile
        • Twenty Mile Village
        • The Island
        • The Colony
        • The Crossing
        • The Hammock
        • The Ranch
        • The Junction
        • The Outlook
        • The Pointe
        • The Settlement
        • The Vista
      • Town Center
        • Addison Park
        • Siena
        • Lakeside
        • The Enclave
        • Daniel Park
      • Crosswater Village
        • Heritage Trace
        • Liberty Cove
        • Freedom Landing
        • Pioneer Village
      • Greenleaf
        • Greenleaf Village
        • Greenleaf Lakes
        • Greenleaf Preserve
      • Coastal Oaks
      • Active Adult 55+
        • Artisan Lakes
        • The Villas
        • Del Webb Ponte Vedra SFH
        • Del Webb Ponte Vedra (Condos)
        • Del Webb Nocatee
      • Duval County
        • Cypress Trails
        • The Palms
        • Timberland Ridge
      • Townhomes
        • Oakwood at Nocatee
        • The Palms Townhomes
        • Tidewater
      • Austin Park
      • Brookwood
      • Kelly Pointe
      • Willowcove
    • Anastasia Island
      • West of A1A
        • Gated
          • Casa Bay
          • Espanita
          • Island Cottages
          • Lions Gate Patio Homes
          • Marsh Creek Golf and Country Club
          • Matanzas Cut
          • Ocean Cay
          • Ocean Palms
          • Ocean Trace
          • Pelican Reef
          • Seagate Patio Homes
        • Non-gated
          • Anastasia Lakes
          • Davis Shores
          • Antigua
          • Cedar Ridge Patio Homes
          • Commodores Club
          • Ocean Grove
          • SeaGrove
          • Sea View
      • East of A1A
        • Gated
          • Anastasia Dunes
          • Island Hammock
          • Ocean Ridge
          • Summer Island
        • Non-gated
          • Coquina Gables
          • Magnolia Dunes
          • Cortez On The Water
      • St Augustine Beach
      • Butler Beach
      • Treasure Beach
      • Crescent Beach
    • Ponte Vedra Beach 32082
      • Golf Communities
        • Marsh Landing Country Club
        • Plantation At Ponte Vedra
        • Sawgrass
      • Eagles Cove
      • Estates at Dolphin Cove
      • Eventide
      • The Palms At Old Ponte Vedra
      • Preserve At Ponte Vedra Lakes
      • Plantation Oaks
      • Avalon
      • East Coast Canal
      • Odoms Mill
    • South Ponte Vedra Beach
      • Goodwin Beach
      • Oceans Edge
      • Isla Verde Beach
      • Guana Landing
    • Vilano Beach
      • Surfside
      • Turtle Shores
      • Villages of Vilano
    • 3+ Car Garage Homes
    • Pool Homes
  • NEW CONSTRUCTION
    • New Construction Search
    • New Construction Map Search
    • Don’t Fill Out That Registration Card!
  • >> Read This First <<
  • EZ Searches
    • Just Listed!
      • Just Listed In Last 24 Hours – St Johns County
      • Just Listed This Week In Ponte Vedra/Nocatee
      • Just Listed This Week In St Johns Florida
      • Just Listed This Week In St Augustine
      • Just Listed This Week in Ponte Vedra Beach
    • Search By Price
    • Search By Zip Code
    • New Construction Map Search
    • 3+ Car Garage Homes
    • Pool Homes
    • Golf Course Homes
    • Active Adult Communities
    • Luxury Homes
    • Map Search
    • Advanced Search
    • Get Property Alerts
  • Blogs
    • Blog
    • YouTube Channel
  • Resources
    • Relocation
    • First Time Homebuyer Course
    • Flood Zone Locator
    • Property Appraiser
    • Tax Estimator
    • School Attendance Zone Locator
    • St Johns County Schools
    • School Grades
  • Reviews
    • Zillow Reviews
    • Google Reviews
  • About Us
    • Meet Sharon and Dwight
    • The Biggest Mistake Most Home Buyers Make
    • YouTube Channel
    • Don’t Call The Sellers Realtor!
  • Contact
  • 904-687-5220

Nocatee

Saint Johns

St Augustine

Ponte Vedra Beach

3 Questions To Ask Before You Buy Your Dream Home

July 24, 2017 By For Buyers Only Realty St Augustine

3 Questions to Ask Before You Buy Your Dream Home | MyKCM

If you are debating purchasing a home right now, you are probably getting a lot of advice. Though your friends and family will have your best interests at heart, they may not be fully aware of your needs and what is currently happening in the real estate market.

Ask yourself the following 3 questions to help determine if now is a good time for you to buy in today’s market.

1. Why am I buying a home in the first place? 

This is truly the most important question to answer. Forget the finances for a minute. Why did you even begin to consider purchasing a home? For most, the reason has nothing to do with money.

For example, a survey by Braun showed that over 75% of parents say, “their child’s education is an important part of the search for a new home.”

This survey supports a study by the Joint Center for Housing Studies at Harvard University which revealed that the top four reasons Americans buy a home have nothing to do with money. They are:

  • A good place to raise children and for them to get a good education
  • A place where you and your family feel safe
  • More space for you and your family
  • Control of that space

What does owning a home mean to you? What non-financial benefits will you and your family gain from owning a home? The answer to that question should be the biggest reason you decide to purchase or not.

2. Where are home values headed?

According to the latest Existing Home Sales Report from the National Association of Realtors (NAR), the median price of homes sold in May (the latest data available) was $252,800, which is up 5.8% from last year. This increase also marks the 63rd consecutive month with year-over-year gains.

If we look at home prices year over year, CoreLogic is forecasting an increase of 5.3% over the next twelve months. In other words, a home that costs you $250,000 today will cost you an additional $13,250 if you wait until next year to buy it.

What does that mean to you?

Simply put, with prices increasing each month, it might cost you more if you wait until next year to buy. Your down payment will also need to be higher in order to account for the higher price of the home you wish to buy. 

3. Where are mortgage interest rates headed?

A buyer must be concerned about more than just prices. The ‘long-term cost’ of a home can be dramatically impacted by even a small increase in mortgage rates.

The Mortgage Bankers Association (MBA), NAR, and Fannie Mae have all projected that mortgage interest rates will increase over the next twelve months, as you can see in the chart below:

3 Questions to Ask Before You Buy Your Dream Home | MyKCM

Bottom Line

Only you and your family will know for certain if now is the right time to purchase a home. Answering these questions will help you make that decision.

Filed Under: Buyer's Agent, Real Estate Market

Recent Posts

  • St Johns County Building Going Strong Despite COVID-19; 4/13/20
  • Rock Springs Farm; a new community in Southern St Johns County 4/11/20
  • A Local Real Estate Update as it relates to COVID-19 Concerns 4/5/20
  • Deadline Approaches To File For Your Homestead Exemption!
  • 2/22/19 The Ella Coastal by Mattamy Homes at Beacon Lake
  • 2/15/19 The Salinas by Riverside Homes in Madeira
  • Panama Hatties Is Rising Like A Phoenix!
  • 2/9/19 Have A Large Family? A Beautiful 5BR/4Bath Home In Shearwater!
  • The Top 10 Things You Need To Know Before Purchasing Your New Home
  • 2/2/19 A Charming Little Home On The Water in Villages of Valencia

Categories

  • Builder Inventory Home
  • Buyer's Agent
  • Fun Stuff Around Town
  • New Construction
  • Nocatee and Ponte Vedra
  • Real Estate Market
  • Reviews
  • St Augustine
  • St Johns
  • The Home Buying Process
  • Uncategorized
  *    *  246 Pescado Drive, St Augustine, FL 32095  *  Ph: +1-904-687-5220  *  email [email protected]

Property information is not guaranteed. © 2021 MLS and FBS. Prepared by Northeast Florida MLS, Inc. on 16th April, 2021 10:00 MST 12:00AM. The information on this sheet has been made available by the MLS and may not be the listing of the provider.

IDX information provided courtesy of the St. Augustine & St. Johns County Multiple Listing Services, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable, but is not guaranteed accurate by the MLS.

Listing Data last updated: 16th April, 2021 10:00 MST
Service by Buying Buddy IDX CRM
Equal Housing
Blue Fire Group    Real Estate Websites
© 2021 Copyright
LAC
My Buying Buddy    Powered By MyBuyingBuddy ®