According to real estate investors there are half a dozen reasons why 2016 is the perfect time to buy.
Reason No. 1: Interest rates are still at record lows
With 30-year fixed-rate home loans still hovering around 4%, who could refuse the chance at purchasing a home. According to Tom Postilio, a real estate broker and star of Selling New York, “It is likely that we’ll never see interest rates this low again.” Prices may be high in some parts of the country, but the savings in interest payments alone makes 2016 the perfect time to buy as home buyers can see hundreds of thousands of dollars over the life of a mortgage.
Reason No. 2: Renting vs. Home Buying — the time may be now
With the cost of living rising, so does the cost of rentals. While this is happening, the cost of monthly mortgages has only slowly risen in comparison. According to Rent.com’s Rental Market Report, rentals have outpaced home values in over 20 of the 35 largest housing market in 2015.
We’ve all had to rent at some point in our lives. But, when it can be afforded, doesn’t it make sense to invest in the home of your dreams? Contact Soldiers First Real Estate today about seeing what’s best for you.
Reason No. 3: Home prices are stabilizing
The steady, slow climb in the market has begun to stabilize, and many real estate investors saying that the country is experiencing a “cooling period,” in the market.
Reason No. 4: Down payments don’t need to break the bank
Down payments can be an obstacle, but with a stabilizing market, a variety of programs are available to help home buyers.
Let Soldiers First Real Estate help you purchase the home of your dreams today.
Reason No. 5: Mortgage insurance is a deal, too
If you choose to pay less than 20% down on a home, it is possible you’ll be required to have mortgage insurance in case of default. But, not only has real estate market begun to stabilize, but so has insurance market. Both federal and private programs are available to home buyers to assist with insuring your mortgage.
Reason No. 6: You’ll reap major tax breaks
No one likes paying taxes, but since we already do, who wouldn’t love receiving that tax break! Tax laws continue to favor homeowners, and unless you are purchasing a home valued at $1 million or more, you can deduct all the monthly interest being paid on your home loan. Can you really beat that? We don’t think so either!
For more information on buying a property through Soldiers First Real Estate, feel free to contact us today, and we’ll help put you in the house of your dreams.