Besides being extremely over the moon happy, there are more reasons to buy your home this year! The employment rate is low, wages are higher, and the economy is strong – these are even more reasons to snag your dream home in 2020! There is no time like the present.
Living in your dream home is reason enough. But on top of that, buying a home is an investment. A great investment, at that! Some say that it is even superior to gold, stocks, and bonds. Owning a home helps build equity. Over the past couple of years, there has been an increase of equity, too.
It is expected for the mortgage rate to not only decrease but also stay low for the rest of the year. What better time to get in on the low rate! These projections are for the thirty-year mortgage.
Unless you are miraculously not paying rent, why would you want to pay the mortgage for someone else when you could pay for your own mortgage? Keep that in mind the next time you pay your rent check. This will continue to be something to think about as the price of rentals continues to increase.
When savings are on the line, along with financial growth, we would recommend you really look into purchasing a home. Before making a final decision, make sure you have a chat with someone educated in the field!