Are you looking for a home for you to live in for the next few years or are you looking to purchase real estate as an investment? There are many reasons this may be the perfect time for you to buy a home or investment real estate.
You need to look at your personal situation and evaluate. Asking for the advice from a professional & experienced Realtor and your accountant can definitely help with your decision.
If now is the time for you personally to purchase a home, lucky you to be in that position. Many people out there wish they could be in a position to take advantage of this great real estate market. Don’t wait…it may be too late!
Buying a home to live in can be switched over to a rental/investment property at a later time.
Look at the homes as someplace you could see yourself living, possibly raising your family. Who wants to live in a house just because you bought it at a great price, but dislike the area or home itself? You will always be looking at where you want to move to next and never settle in. If you pay a little more and still get a discount, but you are thrilled with the home and location, isn’t that worth it? Save the other homes for investment properties.
Talk to your accountant about tax advantages. Owning your home provides some great tax advantages over renting.
Home ownership can be a great hedge against inflation.
Owning your own home can offer long-term appreciation.
If you put a down payment of 20k on a 100k property and it (100k) goes up by 5% a year, that would be 5k a year you make on your 20k. That is a great rate of return.
Your home can be your retirement account. You can enjoy it in while it is getting paid off or have someone else pay off your mortgage by renting it out.
How is your credit? Do you have a down payment available? Give us a call to put you in touch with a great lender to see if you will qualify for a loan right now.
If you choose a fixed rate, your payment would stay pretty consistent (taxes may go up) compared to a rent payment that would probably go up on an annual basis.
Do you own your home now, but want to invest in something that can benefit you in many ways? Contact me to talk about some of the benefits and how it can work for you. It may be easier than you think.
These are only some of the benefits of buying a home/investment property now.
Posted By: Julie Anne – The Julie Anne Real Estate Team at Keller Williams Success Realty