3 Benefits to Buying Your Dream Home This Year

By
Real Estate Agent with The Shannon Jones Team DRE #01247705

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. Let’s get together to determine if homeownership is the right choice for you this year.

Are you looking to buy a home this year? We would love to hear from you.

 

Posted by

 Shannon Jones

______________________________________________________________________________________

Shannon Jones is a Realtor residing in Long Beach, CA. She leads an award-winning real estate team that has been serving home buyers and sellers in Long Beach and surrounding communities since 1998. Shannon and her team provide their clients with high quality marketing and excellent service. You can check their reviews on Yelp or Zillow.  

Connect with Shannon on these sites as well:

 

        facebook   google plus   twitter   youtube   linkedin   pinterest   foursquare     


 
 
CalBRE License #01247705 / 562-896-2456 / Shannon (at) ShowMeHome.com
 
close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Home Buying
Location:
California Los Angeles County Long Beach
Tags:
long beach real estate
home buyers
homes for sale in long beach
long beach real estate agent
benefits of home ownerships

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
3,284,134
Richard Weeks
Dallas, TX
REALTOR®, Broker

Great information, thanks for sharing.  I hope you have a great month.

Feb 17, 2020 02:16 AM #3
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
276,002

Shannon Jones

Long Beach CA Real Estate
Have a question?
*
*
*
*
Spam prevention

Additional Information