If you need assistance, please call 951-735-1700

3 Ways You’ll Win When You Buy a Home This Year

Tuesday, February 16, 2021   /   by RE/MAX One

3 Ways You’ll Win When You Buy a Home This Year



3 Ways You’ll Win When You Buy a Home This Year | MyKCM


There are so many great reasons to purchase a home, and over the past year, we’ve realized more of them than we ever thought possible. If you’re a first-time homebuyer, having a home of your own can give you a greater sense of security and accomplishment in a time that’s largely uncertain. If you’re a repeat buyer looking for your dream home, making a move might give you the space or features you need to find greater success and happiness in a new normal way of life. Whatever your motivations are, here are three reasons why becoming a homeowner now may help you win big in the long run.


1. Buying a Home Is a Great Investment


Several recent reports indicate that real estate is still a good investment, topping other options such as gold, stocks, bonds, and savings. Why? Real estate helps you build equity, a type of forced savings that grows your net worth. According to the latest Equity Report from ATTOM Data Solutions:



“The count of equity-rich properties in the fourth quarter of 2020 represented 30.2 percent, or about one in three, of the 59 million mortgaged homes in the United States. That was up from 28.3 percent in the third quarter of 2020, 27.5 percent in the second quarter and 26.7 percent in the fourth quarter of 2019, despite the ongoing economic damage caused by the worldwide Coronavirus pandemic.”


2. Mortgage Interest Rates Are Low


The Primary Mortgage Market Survey from Freddie Mac indicates interest rates for a 30-year mortgage have fallen since November 2018 when they hit 4.94%. In their latest forecastFreddie Mac expects rates to remain low, leveling out to an average of 2.9% in 2021.


When you purchase a home at a low mortgage rate, it will impact your monthly mortgage payment, giving you the opportunity to likely get more house for your money.


3. Investing in Your Future Pays Off


There are some renters who haven’t purchased a home yet because they’re uncomfortable taking on the obligation of a mortgage. What many renters don’t realize, though, is the financial power of equity.


As a homeowner, your monthly mortgage payment becomes a form of ‘forced savings’ you can reinvest later in life as you see fit. You can use it in a variety of ways, like to fund a loved one’s education, move up to a bigger home, or start your own business. As a renter, you’re actually growing your landlord’s equity instead of your own.


If you’re ready to put your monthly payments to work for you and take steps toward those dreams and goals, purchasing a home may be the way to go, especially as rental prices continue to rise.


Bottom Line


Buying a home sooner rather than later could lead to substantial savings and long-term financial growth. Let’s connect to determine if homeownership is the right choice for you this year.

ReMax One
2790 Cabot Dr Unit 4-130
Corona, CA 92883
951-735-1700
DRE# 00965994
______________________________

ReMax One
25050 Madison Ave Suite 101
Murrieta, CA 92562
Office: 951-973-7272

______________________________

ReMax One
14268 Schleisman Rd. Suite 410
Eastvale, CA 92880
Office: 951-266-0180

Based on information from California Regional Multiple Listing Service, Inc. as of May 16, 2021. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
This site powered by CINC: www.cincpro.com