Buying a home in 2019 looks good on you. Seriously, this year is a great time to stop the renting cycle and get into home ownership. Let’s look at a few advantages to buying a home this year:
*As the title says, rates are still great. Interest rates for mortgages range from 3.72% to 4.35%. Historically, these rates are super low, as rates didn’t stay less than 6% till 2008. Lower interest rates mean more of your payment goes toward principal.
*More money toward principal means more equity in your home. When you buy a home, you are instantly investing in yourself. It is a nest egg that grows with each monthly payment. What’s a better investment than paying yourself?
*Payment history accounts for about 35% of your credit score. If you own a home and begin making timely monthly payments, you begin to increase your credit score. Renting does not offer that same advantage.
*Median rent is comparable to the average monthly mortgage payment. According to Zillow, it’s currently cheaper to buy than to rent in many zips codes.
*Tax savings, who doesn’t love that? Interest on your mortgage can be a tax write-off and save you money every year.
*More stability comes with home ownership, as you’re no longer at the whim of landlords and increasing rent hikes.
*Go green! Buy a home and opt for a recycling service, which many counties offer for free. If buying new appliances, choose the energy efficient options. Plant a garden.
*Build a sense of community. This is your home now, meet neighbors, join local clubs, watch little league games, and make home your happy place.
Let Cowen Property Group find your home this year.