Who doesn’t Like Winning?
There are so many great reasons to purchase a home, and we have the 3 ways you’ll win. Over the past year, we’ve realized more of them than we ever thought possible. If you’re a first-time homebuyer, having a home of your own can give you a greater sense of security. If you’re a repeat buyer looking for your ideal home, making a move might give you space or features. In our new normal way of life, a new home could be your key to happiness. Whatever your motivations are, here are three reasons why becoming a homeowner now may help. We have the answers on how you win big in the long run.
Recent reports indicate that real estate is still a good investment, topping other gold, stocks, bonds, and savings options. Why? Real estate helps you build equity, a type of forced savings that grows your net worth. To increase your equity wealth, it’s time to buy up. Interest rates are low, and the equity you have in your current home may best serve you in a new one. According to the latest Equity Report from ATTOM Data Solutions:
“The count of equity-rich properties in the fourth quarter of 2020 represented 30.2 percent, or about one in three, of the 59 million mortgaged homes in the United States. That was up from 28.3 percent in the third quarter of 2020, 27.5 percent in the second quarter and 26.7 percent in the fourth quarter of 2019, despite the ongoing economic damage caused by the worldwide Coronavirus pandemic.”
2. Mortgage Interest Rates Are Low
The Primary Mortgage Market Survey from Freddie Mac indicates interest rates for a 30-year mortgage have fallen since November 2018, when they hit 4.94%. Freddie Mac expects rates to remain low in their latest forecast, leveling out to an average of 2.9% in 2021.
When you purchase a home at a low mortgage rate, it will impact your monthly mortgage payment, allowing you to get more house for your money.
3. Investing in Your Future Pays Off
Some renters haven’t purchased a home yet because they’re uncomfortable taking on a mortgage’s obligation. What many renters don’t realize, though, is the financial power of equity.
As a homeowner, your monthly mortgage payment becomes a form of ‘forced savings’ you can reinvest later in life as you see fit. You can use it in various ways, like to fund a loved one’s education, move up to a bigger home, or start your own business. As a renter, you’re actually growing your landlord’s equity instead of your own.
If you’re ready to put your monthly payments to work for you and take steps toward those dreams and goals, purchasing a home may be the way to go, especially as rental prices continue to rise.
Buying a home sooner rather than later could lead to substantial savings and long-term financial growth. Let’s connect to determine if homeownership or buying up is the right choice for you this year.
As we move forward….
It’s been tough as we navigated through all the changes. Putting your dream of a new home on HOLD shouldn’t be one of them. Now more than ever knowledge will be your power. Know the Market You’re In and your Negotiation Power. Check out Categories for additional updates regarding the Market | Buying | Selling & My Blueprint to Your 🔑 to 🏡 Buying & Selling Success
If you have any questions, contact us: Chatbot 🤖 at the bottom. Contact me by Email 📩 or my Cell 📲 @ 248-343-2459. With all the doom and gloom of the virus, one thing history has shown us, this will NOT define us. Stay safe! Please share your thoughts below or what future article you would like to see. Your opinion is important to us…. this site is for you ❣
Could you help me Find my Perfect Ideal Home!
Please tell me what you’re looking for in your new Ideal Home…I can help you find the newest and best homes on the market.
Let us know what we can do to help you work your way through the Buying & Selling Puzzle.
Website Development, Production, and Content by Pam Sawyer @ Team Tag It Sold © 2017 All Rights Reserved