There has been a lot of talk lately about interest rates and a changing market, and buyers may wonder if now is a good time to buy. In short, the answer is YES! For buyers, every market is a good market – even a shifting market! We are confident in statement, because homeownership has proven to be one of the best ways that you can build your family’s wealth.
If you are renting a home today - and if you continue renting that home for many years into the future - you can expect that your rent payment will likely increase over time. However, if you buy a home today with a mortgage, your payment (based upon a fixed interest rate) will be locked in for the life of the loan. The average home buyer gets a 30-year mortgage, so in 30 years, when that mortgage is fully satisfied, you will own that home outright! Then, you will have a $0 payment!
Even if you don’t plan to stay in your home for 30 years, there is good reason to invest in home ownership. Historically, real estate has proven to be a stable investment – even during times of inflation, and it’s very probable that there will always be steady demand for housing and real estate. Plus, if you buy smart and invest in a home that you can make desirable improvements to while you live there (for at least 2, but ideally 5 years), then you can expect to see a return on your investment when you sell the home!
Another great thing about buying a home is that if interest rates come down in the future, you can always refinance and get a lower rate / lower payment! So, buying a home today – or any day – is a really good idea for building your family’s wealth.
If you are on the fence about buying and want to explore all of your options, we would love to chat! Let our experience go to work for you! Call The Joey Crews Team today. 256-310-2294
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When you hire The Joey Crews Team, you place your real estate needs in Crews Control!
Leading the East-Central Alabama market since 2010! Serving Calhoun, Talladega & Cleburne Counties, as well as neighboring communities!