Every month you procrastinate, your landlord is one month closer to paying off their property with your rent check. Why not start building your own equity and be one step closer to financial freedom or be more prepared to cash in your investment and have enough for your dream home.
As the population expands, so does our residential footprint on the Earth. While you have been waiting, home owners have been scooping up the properties nearest the highest sought after areas. As prices rise, they will probably end up paying less than you will for a house that is farther if you wait.
RENT IS INCREASING
You may have noticed when it came time to renew that your reward for being a loyal tenant was an increase in rent.
INTEREST RATES ARE AT RECORD LOWS...
In the 1980's the average interest rate was 12.7%. In the 1990's the average interest rate was 8.12%. In the 2000's the average interest rate was 6.3%. So far in this decade, the average interest rate has been 4.19%
BUT HOME VALUES HAVE RISEN
Buy low / sell high is the rule with all investments. Get yours before you are priced out of making your home a viable investment.
Currently we have multiple programs designed to help you get into a home. This is dependent on decisions made by politicians and the nature of our economy. It may very well be much more difficult to get started on your path to homeownership in the future.