TEN GREAT REASONS TO BUY A HOUSE THIS YEAR
1. Quality of life- A home provides comfort,stability and security for you and your loved ones and membership within a community of neighbors. By the way there is a new movie out called Neighbors with Seth Rogen and Zac Efron. Hope your neighborhoods don't turn out to be bad as Seth Rogen's neighbohoods. One good reason why you should go and see this movie.
2. Pride of home ownership-A home is a personal haven,a place that you can decorate,shape and share over time because it's yours. Wouldn't you like to own something? Buy a house.
3. Excellent Affordability-Lower home prices combined with historically low interest rates means there are tremendous opportunities for home buyers. Oh and in DC there is a 100% loan program called DC OPEN DOORS PROGRAM. And there is always the other 100% loan product for homebuyers USDA.
4. Historically low interest rates-Average interest rates is around 4.5% given to people who are qualified to buy a house. This interest rates is the lowest it has even been.
5. Appreciation potential-Your home investment can grow in value. More than you even imagine.
6. Equity buildup and debt pay down-Homeowners enjoy an average net worth of approximately $184,000 vs. $4,000 for renters. You want to accumulate wealth,become a home owner.
7.Leverage-Where else can you buy an investment of this magnitude with 5-10% down? Some loans require no down payment. I stated this earlier in Number 3.
8. Tax Deduction Advantages-Property tax and mortgage interest write-offs. And do you know about 1031 Exchanges? If you are a real estate investor,you definitely need to know.
9. Tax exemption-up to $500,000 per married couple or $250,000 per person on sale of a primary residence in the United States.
10. The real cost of renting-at $1200 per month,with the average 6% rental increase per year,you will pay $183,240 over a 10 year period but have zero ownership of the property.
So if you want to build wealth by becoming a homeowner,please call your Local DC Real Estate Agent today and he will be more than happy to help you get started