5 reasons why Buying Real Estate now is a great idea!!
1. Pay Yourself: We still have record low interest rates! If you are currently renting, you could possibly buy a house and have lower payments(basically to yourself, as you increase your equity with each payment) than you currently pay in rent, to someone else! Pay yourself, no Regrets...2.99%-3.09% at most banks right now.
2. Pride: Home ownership offers many benefits to many different types of people. For some homeowners, playing your music as loud as you want and painting the walls the color of your choice is a perk. For ME, it's knowing my family is in a good house ,that's well taken care of! No matter who you are, home ownership is a purchase, commitment, and journey that’s sure to bring you pride.
3. Tax incentives: There are many tax incentives out there for home owners...on income taxes...both because of property taxes paid and for first time home buyers, land transfer taxes for first time home buyers.
4. Home Improvement: When you rent, the landlord will penalize you if you make structural or sometimes even simple cosmetic changes to your apartment or home. When you own, you are the boss, and you can make the changes you want to make. There is a freedom that comes with home ownership that can be fun and liberating!
5. Investment: Though there is no guarantee that home prices will continue to rise, there is a track record you can look at, the past few years, which show a small but steady increase in house values. While you're paying your monthly mortgage amount and adding to your equity in the property, you could also be sitting on a small gold mine, with care and maintenance as well as good quality upgrades, the potential to increase the value of your home is priceless.
For more information on this, or other real estate questions, or to be added to my client list to receive potential properties before it goes on the MLS system, please contact me!