A lot is always made of how things seem to be more expensive than ever. Well, it's true that the cost of so many of life's essentials has gone up in recent years, but is this a completely true perspective?
In 1991 it took almost 60% of the average family's budget to buy a home. Fast forward to today and that figure is just 40%! An interesting statistic, to say the least.
So if you're interested in buying a home, there's definitely a strong argument that history is on your side, and that's before you've taken into account what is actually happening right at this minute in the Albuquerque area homes market.
This week mortgage interest rates took yet another dip and they are now the lowest they have been all year, and that's near to historic lows. If you'd like another historic perspective, back in 1991 rates were more than double what they are today!!!
The good news doesn't end there as, even though they are still very affordable, prices of homes are rising again, meaning that you are very likely to start building equity on the day you move in.
If you missed it before, it might also be worth referring to our recent blog on why continuing to rent is not a good idea and much more expensive than home ownership. Click here to see and read it - it's very compelling.
If you're on the fence, we think it's fair to say that the combination of circumstances right now perhaps adds up to the best ever overall opportunity to make the leap.
Call us today and we'll explore all your home purchasing options with you.
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