The Sibley Group at Keller Williams Realty 455-0100

Your Home For New Orleans Real Estate

  • Home
  • Sellers
    • Make a Good First Impression
    • What’s My Home Worth?
    • Determining The Value of Your Home
    • Foreclosure & Short Sales
      • What is a “Short Sale”?
      • Short Sale Process
    • Real Estate Glossary
  • Buyers
    • Find Homes For Sale
    • Get Pre-Approved
    • Making an Offer
    • Mortgage Resource Center
      • FHA Loans
      • RD Financing – Rural Development Loans
      • VA Loans
      • Construction & Renovation Loans
    • Real Estate Glossary
  • Communities
    • Northshore
      • Slidell
      • Mandeville
      • Covington
    • Southshore
      • Uptown
      • Garden District
      • Carrollton / University
      • Broadmoor
      • Lakeview
      • Mid City
      • Warehouse District and CBD
      • French Quarter
      • Marigny and Bywater
      • Metairie
  • Resources
    • Local Area Schools
    • Moving Center
    • Preferred Vendors
    • Hurricane Preparedness
    • Blog
  • Listings
    • View Our Listings
    • Search All Listings
  • About Us
    • The Sibley Group
      • Our Team
      • Reviews & Testimonials
    • Keller Williams Realty
    • Careers
    • Choosing a REALTOR
    • Client Services
  • Contact Us
  • Property SearchSearch Homes By Map
  • Listings By EmailListings Updates Sent To Your Inbox
  • Home ValuationWhat Is Your Home Worth?
  • My AccountLogin To Save Listings And Searches
You are here: Home / Blog / Thinking of Buying a Home? 3 Questions Every Buyer Should Answer First

Thinking of Buying a Home? 3 Questions Every Buyer Should Answer First

January 11, 2016 by John Sibley

Thinking of Buying a Home? 3 Questions Every Buyer Should Answer First | Simplifying The Market

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 interest at heart, they may not be fully aware of your needs and what is currently happening in the real estate market.

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

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

This truly is 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.

A study by the Joint Center for Housing Studies at Harvard University reveals that the four major reasons people 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 Home Price Index from CoreLogic, home values are projected to increase by 5.3% over the next 12 months.

What does that mean to you?

Simply put, if you are planning on buying a home that costs $250,000 today, that same home will cost you an additional $13,250 if you wait till next year. Your down payment will need to be higher as well to account for the higher home price.

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), the National Association of Realtors and Freddie Mac have all projected that mortgage interest rates will increase by approximately three-quarters of a percent over the next twelve months as you can see in the chart below:

Mortgage Rate Projections | Keeping Current Matters

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: Blog, Featured Blog Posts, First Time Home Buyers, For Buyers, Interest Rates, Pricing Your Home Tagged With: First Time Home Buyers, For Buyers, Interest Rates, Pricing

Homes By Price Range

Homes Under $200,000

Homes $200,000 – $300,000

Homes $300,000 – $400,000

Homes $400,000 – $500,000

Homes $500,000 – $600,000

Homes $600,000 – $750,000

Homes $750,000 – $1,000,000

Homes Over $1,000,000

Homes by School District

  • Your Contact Information

WHAT OTHERS ARE SAYING

Listened, were easy to reach, and delivered on what they promised.

Default Avatar75
Ashley, New Orleans, LA
 

I worked with Gana, OMG what a GEM !!! Gana made this entire experience pleasurable. Her knowledge, patience and go-getter attitude won me over 100%.

Avatar
Monique C Thomas
 

I worked with Gana to purchase my first home in March 2018. Gana definitely helped me out during this process. She stayed in contact with me and was very good with her timeliness on updates. She was there throughout the whole process and was very knowledgeable when i had any questions. Gana made sure I understood any documents that I had to sign before I completed the action. I would definitely recommend her!

Default Avatar75
Lamar, Slidell, LA
 

There are not enough words that can describe Lana. She absolutely made our experience of finding a home as easy and stress free it could be. Her communication skills are top notch. She answered all of our questions, which were many, in a very timely manner. She went out of her way to set up appointments and send us links for everything that we needed to get done. She did everything in a spirit of excellence. There is no other person I would want or recommend as an agent than, Lana Leonard(...)

Default Avatar75
Shawn & Suzanne, Lacombe, LA
 

I bought my first home!!! Jordan provided exceptional service. At first, I was looking to rent, but she showed me I could get more of what I needed for less if I considered purchasing a home. It is an investment in my future and I am so glad she helped me feel confident in my ability to buy a home. The Sibley Group is a wonderful team that is there for your needs and supports you every step of the way. I highly recommend them, especially Jordan. She was attentive, resourceful, knowledgea(...)

Default Avatar75
Melissa, Covington, LA
 

Mrs. Gana is quite the gem, in fact, the entire Sibley Group were all so helpful and made our first home buying experience a breeze.

We were totally lost when it came to finding a mortgage company and having a realtor with such expertise and experience really put us at ease. She set up connections with several lenders and from there we were put on a path to home ownership!

I would recommend Mrs.Gana a million times again and the Sibley(...)

Default Avatar75
Michelle, Slidell, LA
 

The decision to sell our home and to use the Sibley Realty Group was a year long process. We were concerned about determining the right time to sell and determining a fair and appropriate asking price. We had questions about how to adequately prepare our home for photos and showings. We were concerned about security and showing our home while we were away on vacation. John Sibley addressed all of our questions and concerns. He walked us through the process from listing to closing. He was a(...)

Default Avatar75
Annemarie & Jerry, Slidell, LA
 

We were having troubles trying to figure out the particulars of buying a house and were a little intimidated about approaching a Real Estate agent. Those fears were put to rest after meeting Gana.

She not only guided us through the entire process, but made it a point to go over the contract with verbiage that we understood as first time home buyers- that was important.

The entire experience was smooth, as she laid to rest any fears we(...)

Default Avatar75
Willliam, Slidell, LA
 

Everyone at the Sibley Realty Group was exceptional. From the first phone call to the closing of the home we had the best service. I would recommend Jordan and her team to anyone. Awesome Job Guys! And thanks again.

Default Avatar75
Anonymous, New Orleans, LA
 

Gana made this transaction easy to understand for us as first time home buyers. Gana was very in tune with us when she could tell I didn't understand something. She slowed everything down and made sure I understood before we moved on.

Default Avatar75
Anonymous, Slidell, LA
 

From Our Blog

Why You’ll Want a Home Inspection

Some HighlightsOnce your offer is accepted, an inspector will assess the condition of the house, … [Read More...]

Housing Market Forecasts for the Second Half of the Year

From rising home prices to mortgage rate swings, the housing market has left a lot of people … [Read More...]

About Us

The Sibley Group has a team of Realtors to meet all of your real estate needs throughout the New Orleans Metropolitan area. We have agents that specialize on the Northshore and Southshore, including New Orleans, Slidell, Metairie, Covington, Mandeville, Pearl River, and Lacombe.


Trust a real estate team with a long-standing tradition of service, expertise, and professionalism in the local area.


John Sibley reviews
The Sibley Group
Keller Williams Realty 455-0100

3197 Richland Ave, Metairie, LA 70002

Northshore: 985.326.9755
Southshore: 504.571.9755
Broker: 504.455.0100

From Our Blog

Why You’ll Want a Home Inspection

Some HighlightsOnce your offer is accepted, an inspector will assess the condition of the house, … [Read More]

Housing Market Forecasts for the Second Half of the Year

From rising home prices to mortgage rate swings, the housing market has left a lot of people … [Read More]

Search Links

  • Search Listings
  • Search by Map
  • Login






Keller Williams Realty Professionals

The name of the company is Keller Williams Realty 455-0100.
Each Office is Independently Owned & Operated.

Broker & Associates are licensed by the State of Louisiana.
Copyright © 2019 All Rights Reserved