The Cost Of Waiting To Buy Your Home In San Diego

The Cost Of Waiting To Buy Your Home In San Diego

Last month the California Association of Realtors released a home sales report that showed the median price of a home in San Diego was $531,350 - up from $498,020 in May and up from $483,330 this time last year. That's an appreciation of 10% over the course of one year. (To keep this figure in perspective, Los Angeles county home prices appreciated 8% over the course of the year revealing that San Diego is becoming one of the most desirable places to live in California.)

Add to this the fact that mortgage rates are beginning to rise steadily, and you could see why waiting to buy a home now may mean getting priced out of the San Diego housing market entirely.

To put this in terms of real numbers, consider that on a $500,000 home in San Diego, the cost of waiting one year amounts to a difference of $291.92 per month in mortgage payments. Think what else you could do with that money!

If you're in the market for a home, check out our website with the most current San Diego home listings. Once on our website, you can also search for San Diego homes just reduced in price

Depending on your budget and your needs, you can still get a lot for your money and start enjoying the healthy equity many San Diego home owners are seeing in their homes. 

Rebecca Team Conley Headshot
Phone: 858-342-9953
Dated: August 4th 2014
Views: 733
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