This may not be the most exciting topic, but financial planning is very important when it comes to buying a home. Here are 4 reasons why you should buy a house TODAY:
1. BUYING IS CHEAPER THAN RENTING
Homeownership remains cheaper than renting with a traditional 30-year fixed rate mortgage in the 100 largest metro areas in the United States, according to an article on Trulia.
2. HOMEOWNERSHIP “FORCES” YOU TO SAVE
You own the home, you have no choice – that monthly housing cost has got to be paid no matter what. Homeownership can be an outstanding way to force yourself to be more frugal in the rest of your spending so that you can save and build equity in your home.
3. SEVERAL TAX DEDUCTIONS
Homeowners who itemize deductions may be able to reduce their taxable income by deducting any interest or property taxes paid on a home mortgage.
4. HOME APPRECIATION PRICES
Every quarter, Pulsenomics surveys a nationwide panel of over one hundred economists, real estate experts, and investment & market strategists about where they believe prices are headed over the next five years. They then average the projections of all 100+ experts into a single number. Over the next five years, the experts say that home prices are expected to appreciate 3.22% per year on average and to grow by 17.3% cumulatively, according to Pulsenomics’ most recent Home Price Expectation Survey.
Some are afraid that home values may have already peaked. However, we believe that purchasing a home now will prove to be a sound financial decision for years to come. Contact our sales team at 701-234-0404 or firstname.lastname@example.org.