A lot of young people today are wary about purchasing a home, considering recent circumstances. They may be worried about taking on a lot of debt during these uncertain times and getting tied down. However, buying a home is still a good idea, and here are a few reasons why:
1. A house is one of the best investments you can make, because house prices tend to rise over time. For the past 20 years, home prices in the U.S. have consistently risen three to six percent a year. This is a trend that is likely to continue. If you buy a home now, you’ll be putting your capital in a safe investment where it is likely to grow.
2. Interest rates are still historically low. This means that it is still relatively inexpensive or affordable to take out a mortgage. The lower the interest rate, the sooner you can pay off your mortgage and the less you will pay for your house.
3. Owning your home gives you a certain amount of stability and sense of emotional security. If you purchase a home, you won’t have to worry about negligent or dictatorial landlords, rent increases or the possibility of your building being sold or redeveloped anymore. You can live in your home for as long as you like, fix your monthly payments for as long as 30 years and have the satisfaction of being in charge.
The Incorvaia Team would be happy to help you if you are considering purchasing a home. Just give us a call at 440-879-7130 or email us at theincteam@gmail.com and prepare yourself for a great real estate experience!
