3 Benefits to Buying Your Dream Home This Year

By
Real Estate Agent with REMAX Realty Group Lic. # SL3154233

Outside of a strong economy, low unemployment, and higher wages, there are three more great reasons why you may want to consider buying your dream home this year instead of waiting.

1. Buying a Home is a Great Investment

Several reports indicate that real estate is a good investment, topping other options such as gold, stocks, bonds, and savings. Why? Real estate helps build equity, a form of investing for you and your family. According to CoreLogic’s Equity Report,

“U.S. homeowners with mortgages (roughly 64% of all properties) have seen their equity increase by a total of nearly $457 billion since the third quarter 2018, an increase of 5.1%, year over year.”

This means the average homeowner gained approximately $5,300 in equity over the past year. If you want to start building your equity, put your housing costs to work for you through homeownership this year.

2. Mortgage Interest Rates Are Low

The Primary Mortgage Market Survey from Freddie Mac indicates that interest rates for a 30-year mortgage have fallen since November 2018 when they hit 4.94%. In their latest forecast, Freddie Mac expects rates to remain low, leveling out to a yearly average of 3.8% in 2020.

When you purchase a home at a low mortgage rate, it will impact your monthly mortgage payment, giving you the opportunity to buy more house for your money.

3. Investing in Your Family is a Win

There are some renters who haven’t purchased a home yet because they’re uncomfortable taking on the obligation of a mortgage. Everyone should realize that, unless you’re living rent-free with your parents, you’re paying a mortgage – either yours or that of your landlord.

Today, rental prices continue to increase, and when you’re paying your landlord’s mortgage instead of your own, you’re not the one earning the equity. As an owner, your mortgage payment is a form of ‘forced savings’ you can use later in life to reinvest in your family. You can use it for a variety of opportunities, such as saving for your children’s education, moving up to a bigger home, or starting your own business. As a renter, it can be more challenging to achieve those types of dreams without home equity working for you.

Bottom Line

Buying a home sooner rather than later could lead to substantial savings and long-term financial growth for you and your family. Reach out to your local real estate professional Abby Stiller to determine if homeownership is the right choice for you this year.

 

info provided by KCM

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Abby Stiller 

Realtor® Lic. #3154233    

12 Years of Experience

RE/MAX Realty Group    Cape Coral Fort Myers Naples  Realtor Cape Coral      

 

I help Home buyers find their dream home & Homeowners sell for more. Thinking of buying or selling? Call/Text me: 239-284-8637   Your Honest & Dedicated Realtor!

or visit: www.TeamStiller.com

 

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Rainmaker
397,310
Gwen Banta
Sotheby's International Realty - Los Angeles, CA

"Everyone should realize that, unless you’re living rent-free with your parents, you’re paying a mortgage – either yours or that of your landlord." What a great line - and a perfect reason to invest in oneself! 

Jan 08, 2020 05:42 PM #1
Rainmaker
397,310
Gwen Banta
Sotheby's International Realty - Los Angeles, CA

Incidentally, I plan to use this as a persuasive argument many times in the future, Abby!

Jan 08, 2020 05:43 PM #2
Rainmaker
437,740
Steffy Hristova
HomeSmart Elite Group Tempe AZ Tel: 480-966-9353 - Tempe, AZ
Tempe AZ Realtor - Your Home Close to Your Work!

Mortgage rates just went down again, and Gwen Banta is right to quote you - you are paying your Landlord's mortgage, why not pay yours?!

Jan 08, 2020 07:09 PM #3
Rainmaker
3,261,059
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Well let me post this a second time, unfortunately in my market less than dream homes are going for $960k to 1.2 million so not everyone can step into the market right Gwen Banta ? Happy 2020 to both of you, Endre

Jan 08, 2020 10:37 PM #4
Rainmaker
397,310
Gwen Banta
Sotheby's International Realty - Los Angeles, CA

Sadly, Endre Barath is correct. We have high costs and an incredible housing shortage here in Los Angeles. That notwithstanding, if someone has the down payment I agree with you, Abby, it is better to buy than to rent. However, the American dream of home ownership has become a blurred and distant vision for many Los Angelenos.

Jan 09, 2020 12:47 AM #5
Rainmaker
397,310
Gwen Banta
Sotheby's International Realty - Los Angeles, CA

As an afterthought regarding Endre Barath’s comment: Even small condos are becoming prohibitive here in LA. We pay a major price for sunshine and great weather. 😏

Jan 09, 2020 12:52 AM #6
Rainmaker
3,279,692
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Abby,  I wonder how some people can afford to live in some area but then great values in other area. 

 

Jan 09, 2020 08:31 AM #7
Rainmaker
482,883
Abby Stiller
REMAX Realty Group - Cape Coral, FL
Professional Bilingual Realtor (239) 284-8637

Hi Gwen Banta and Endre Barath, Jr. I'm sorry your market is not that favorable for everybody due to the highest prices. I just can't imagine paying more than half million dollars for a condo, when in here with that amount of money you can buy a big single family home with a pool with access to the gulf without hoa fees. 

Jan 09, 2020 06:18 PM #8
Rainmaker
482,883
Abby Stiller
REMAX Realty Group - Cape Coral, FL
Professional Bilingual Realtor (239) 284-8637

Hi Steffy Hristova that's what Im telling people in my area to take advantage of the super low interest rates.

Jan 09, 2020 06:19 PM #9
Rainmaker
397,310
Gwen Banta
Sotheby's International Realty - Los Angeles, CA

I agree, Abby. My sister recently bought a beautiful 4 bd lakefront home in a charming, historic town in Indiana for $189,000! But in all honesty, the weather can be dismal....

Jan 10, 2020 01:12 PM #10
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Abby Stiller

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