{"id":15644,"date":"2021-03-10T00:05:08","date_gmt":"2021-03-10T00:05:08","guid":{"rendered":"https:\/\/woodriverweekly.com\/?p=15644"},"modified":"2021-03-09T20:39:51","modified_gmt":"2021-03-09T20:39:51","slug":"skip-the-starter-home","status":"publish","type":"post","link":"https:\/\/woodriverweekly.com\/index.php\/2021\/03\/10\/skip-the-starter-home\/","title":{"rendered":"Skip The Starter Home"},"content":{"rendered":"<p class=\"p1\"><strong>BY ANNA &amp; MICHELLE<\/strong><\/p>\n<p class=\"p2\">For generations, people have begun their homeowner experience with a \u201cstarter\u201d home.\u00a0Part of the\u00a0logic may be that by beginning with a smaller home, they can learn what it takes to run the home and discover some of the unexpected costs that come along with it.\u00a0A slightly longer view into the future could suggest a different strategy.<\/p>\n<p class=\"p4\">As of March 4, 2021, the average 30-year mortgage rate according to Freddie Mac was 3.02%; up .37% from the week of January 7th this year.\u00a0At the same time, in 2020, the rate was 3.29%, and in 2019, it was 4.41%.\u00a0That is a difference of 28 and 139 basis points.<\/p>\n<p class=\"p4\">The principal and interest payment on a $300,000 mortgage would have been $236 higher two years ago and $44 more one year ago.\u00a0Today\u2019s low mortgage rates are saving buyers lots of interest, especially when you factor in the median tenure for sellers is approximately 10 years.\u00a0Even though prices have increased over the last two years, some people may be able to afford more now with the lower rates.<\/p>\n<p class=\"p4\">Anticipating the future wants and needs now may present some opportunities for preparing for the inevitable.\u00a0By purchasing a larger home today, a buyer can lock in today\u2019s low rates and prices to allow themselves room to grow without the expenses of moving.<\/p>\n<p class=\"p4\">Each time you sell and purchase a home, there are expenses associated with each side of the transaction.\u00a0Purchase costs could be 1.5% to 3% while sales expenses could easily be 2.5 times that much.\u00a0These expenses lower the value of your equity.<\/p>\n<p class=\"p4\">Instead of looking at the low mortgage rates as generating a savings from the payment you might normally have to make, consider it an opportunity to purchase more home that will possibly meet your needs for a longer time while eliminating the cost of selling and purchasing in the transition.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignright wp-image-13595\" src=\"https:\/\/woodriverweekly.com\/wp-content\/uploads\/2020\/06\/anna-matthieu-1-300x68.png\" alt=\"\" width=\"719\" height=\"163\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>BY ANNA &amp; MICHELLE For generations, people have begun their homeowner experience with a \u201cstarter\u201d home.\u00a0Part of the\u00a0logic may be that by beginning with a smaller home, they can learn what it takes to run the home and discover some of the unexpected costs that come along with it.\u00a0A slightly longer view into the future [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":15647,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","_pvb_checkbox_block_on_post":false,"footnotes":""},"categories":[64,82,38],"tags":[],"class_list":{"0":"post-15644","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-better-homeowners-news","8":"category-housing","9":"category-sponsored"},"_links":{"self":[{"href":"https:\/\/woodriverweekly.com\/index.php\/wp-json\/wp\/v2\/posts\/15644","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/woodriverweekly.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/woodriverweekly.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/woodriverweekly.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/woodriverweekly.com\/index.php\/wp-json\/wp\/v2\/comments?post=15644"}],"version-history":[{"count":4,"href":"https:\/\/woodriverweekly.com\/index.php\/wp-json\/wp\/v2\/posts\/15644\/revisions"}],"predecessor-version":[{"id":15650,"href":"https:\/\/woodriverweekly.com\/index.php\/wp-json\/wp\/v2\/posts\/15644\/revisions\/15650"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/woodriverweekly.com\/index.php\/wp-json\/wp\/v2\/media\/15647"}],"wp:attachment":[{"href":"https:\/\/woodriverweekly.com\/index.php\/wp-json\/wp\/v2\/media?parent=15644"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/woodriverweekly.com\/index.php\/wp-json\/wp\/v2\/categories?post=15644"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/woodriverweekly.com\/index.php\/wp-json\/wp\/v2\/tags?post=15644"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}