In today’s housing market, (low inventory and lots of competing buyers) many people are opting to buy a brand new home from one of the local builders. Many people think they are being savvy to
Yes You ARE Ready To Buy Now
It's easier than you might think.
Many people continue to rent, thinking that some day they'll have enough for a down payment for a home. Waiting is a big mistake. With so many loans available, many of them with down-payment assistance programs, you probably have enough savings RIGHT NOW to qualify for a loan with a great rate.
Why are you paying your landlord's mortgage?
Waiting will actually cost you more since the prognosis is that rates will start to rise steadily. Plus home prices are continuing to rise. So why wait? A portion of your monthly housing costs will go to your own pocket as you build equity in the home. 100% of rent money simple goes down the drain. In fact, you are helping to pay off your landlord's mortgage. The monthly payments are usually about the same as renting, especially when you factor in the interest you can deduct from your taxes.
Live in your own investment.
You've hear of the concept of the "millionaire next door?" It means that ordinary people with ordinary jobs retire as millionaires and you'd never know it. Almost all of them built that sweet nest egg through owning real estate. You don't have to be a financial wizard or a marketing genius. Simply buy a home and live in your investment while you patiently wait for the value to compound over time.
Michael Barth is a full-time Associate Broker/Realtor with an extensive knowledge of the communities along the Wasatch Front. As the former owner of Sundays Child and Kona Ice he brings over 20 years ....
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