They say nothing gets cheaper in life, but owning a home just might be the one thing that does IF ...you buy sooner rather than later, while homes are still affordable and below their historic peaks and interest rates remain very low. The infographic below from Keeping Current Matters below illustrates just how much cheaper it is to own a home today than it has been since the 1970's. I would challenge you to find anything that is cheaper today than it was 10, 20, 30, 40 years ago.
The chart below shows how home ownership is cheaper today another way ~ namely, year-by-year for the past 24 years instead of by decade. The monthly mortgage payment on a median priced home in the U.S. was just $808 per month in 2014, with only 2010-2013 being years when the monthly mortgage payment was lower than $808 per month. Moreover, this also begs the question of where or if you can rent a home for $808 per month.
This is why if you've been thinking about buying a home and sitting on the fence, NOW IS THE TIME to get off the fence and start shopping. Home prices will only continue to go up, as will interest rates.
WANT TO GET OFF THE FENCE AND BUY A HOME IN THE CHARLOTTE METRO AREA? CONTACT CAROLINAS REALTY PARTNERS. WE CAN HELP!
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