Here are some reasons to buy this spring.
Spring Reasons to Buy
It’s finally Spring and the weather is getting warmer. Additionally, the snow is almost gone therefore it’s time to stop being a tenant and become a homeowner. Here’s a few reasons why you should.
Home prices are rising.
According to a recent study, home prices have risen 6.9% in the past year. And there’s no end in sight. The study predicts that home prices will rise an additional 4.8% in the next year. Home prices are not going down. In fact, they should continue to rise for the foreseeable future.
Mortgage rates are Lower.
In March 2018, the prevailing interest rate for a mortgage was 4.66%. In contrast, in March 2019 the rates are hovering around 4%. The rate changes from 4.66% to 4% probably won’t make a big impact on your mortgage payment, but it will decrease. And, this change may allow you to buy a slightly nicer home for the same payment.
You’re Already Paying a Mortgage
That’s right, unless you’re living with your family rent free, you’re already paying a mortgage. However, you’re paying your landlords mortgage. If you were paying your own mortgage, you would have the tax benefits. In addition, you would be building your own equity and increasing your own net wealth.
Invest in your family’s stability.
By owning your own home, your family can put down roots, and not live with the thought that next year your landlord may decide to sell.
Now’s a great time to buy. And, you can probably buy a home similar to what you’re renting for the same, or less, monthly payment. So think about it, and when you’re ready to look at homes, contact us.
Would you like to look at homes in other Monmouth County towns? Visit our web site