4 signs you’re about to pay more than a house is worth
Just because some folks can afford to buy a home in today’s competitive market doesn’t mean they can afford to overpay.
As housing prices climb, it’s even more important to make sure that your investment is a smart one. It’s not every day you sign up for a 30-year $363,300 loan. Which, incidentally, is the average cost of a new home in the United States as of June 2018, according to the Census Bureau.
And prices are climbing. Home prices rose 7.1 percent year over year from May 2017, according to CoreLogic, with few signs of plateauing even as interest rates tick up.
There’s no guarantee that the house you buy today is priced reasonably or will increase or even retain its value. The best anyone can do is to use the tools and information available to make an educated guess. For buyers, this means talking to your agent and doing some research.
Click Here for indicators that can help you determine whether the house you want to buy will retain its value.