We can go back and forth all day about the pros and cons of buying a home now. When you ask Google, the top results will be compelling arguments for either side.
Basically, it boils down to what you want and how much you want it for!
If you are definitely only going to be in a specific location for just a few years, renting just might be your best option....unless you have a guaranteed income or allowance for housing and you can purchase a home for less than you rent- and then rent the home when you move and earn money on your investment...
Check it out:
Rent a home for $800/month means you're going to put down a $800 security deposit, plus the $800 rent every month, and that's not including utilities and pet fees and the 4% inflation every year. You can exponentiate that for a period of three years and find that renting will cost a little over $31,000.
Spending the same amount of money every month, but investing it in a mortgage will buy a home priced right around $150,000. And as a homeowner, you can enjoy the added tax benefits, inflation to add value and equity, not dealing with a landlord, having the freedom of painting, having pets, remodeling to suit your tastes and the list goes on and on.
Among historically low mortgage interest rates (check them here!) , buyer incentives to include: closing cost assistance, buyer possession, furniture allowances, remodeling and decorating allowances, home warranty, landscaping packages and more, as well as depressed sale prices, this is a great time to make the financial decision to buy a home!
Experts agree that while home ownership still carries some risk, it's still a steady and worthwhile investment. It is, in fact, the only investment that you can use at the same time you pay for it and it will steadily appreciate. Not quickly, but how many quick investments work out in the end anyway?
Of course buying a home and making any type of investment is not a decision to be taken lightly and will impact your entire lifestyle for many years. But it can definitely set your financial future up for success as well as give you the peace of mind and somewhere to call home.
Check out my website for home buying tips and to browse homes, both for rent and for sale, that are available! I would love to assist you with all of your real estate needs!
www.AmandaParmerSellsHomes.com
"I'm never too busy for any of your referrals!"
No comments:
Post a Comment