Why Should You Buy Now?
Top Five Reasons You Should Buy a Home Now!
Are you a first-time homebuyer in the Charleston area contemplating when is the right time to purchase a home? Millennials 34 and younger make up a large percent of the first time home buying population, and according to statistics, half of all millennials plan to buy a home in the next five years. If you are wondering whether you should begin your home search now or hold out for the future, I present you with the top five reasons why now is the time to buy!
- Interest rates are historically low- Rates are hovering around 4% or even lower for those with a high credit score. Buyers should act now since experts are predicting interest rates will rise again in the future.
- Appreciation- A home is one of the best investments you can make as house prices tend to rise over time. Purchasing a home puts your capital in a safe long term investment that is likely to grow.
- Tax Breaks- Homeowners pay less in taxes. Real estate taxes are deductible, and new owners get the greatest tax benefits.
- No money down Loans- For buyers concerned about a down payment, there are loan options with little to no money down. USDA loans for rural areas and the SC Housing Homebuyer Program are two of these examples.
- Pride of Ownership- Having a home that is entirely yours means you can do what you please. You can paint any color or put holes in the wall. Even your pets you can enjoy in peace.
On a final note, when it comes down to the numbers, mortgage payments are often lower than monthly rent, and at the end of the day, you will have your own home to show for it. If you need assistance in finding that perfect abode, contact Erin Eisele and turn home ownership from a dream into reality.