Want to explore the benefits of home ownership?
If you want to build personal wealth, the research shows buying a home is a good start. Home values increase over time and your equity builds up even more through the systematic monthly mortgage payments you make.
With our low interest rate environment, mortgage payments are often the same as rent payments for smaller living spaces. The purchase of a $400,000 home could net you at least $60,000 more than renting a $2200 month home if you were to sell after eight years. The numbers are always changing based on down payments, interest rates and the tax laws. If you want to look at your situation, just let me know and I can send you a customized comparison.
Many people want to purchase a home because they don’t want to be subject to rent increases and decorating restrictions. Being an owner gives you the peace of mind of steady monthly payments with a fixed rate mortgage. Being an owner allows you the opportunity to make your house a home. “Paint, create and decorate as we please” is a very common theme that I hear among first time homebuyers as a big reason to buy.
When I work with buyers, I always suggest a one hour consultation to discuss the process of home buying, selecting a team of professionals and going over the costs involved in the purchase. There is an investment needed to purchase a home and many people are unaware of the costs. I will go over the downpayment options, what prepaid costs are necessary, escrow amounts and taxes. I will even go over with you how to consider using Zillow Zestimates and Redfin online valuations.
If you are considering buying now or sometime soon, there is no better time than the present to start getting information that will help you Move Faster to Your Home.