The choice between renting vs buying a home is an important financial decision that many have to make. While there are many details to take into consideration when making the decision to purchase a new home, the favorable conditions of today’s market make owning a home a reality for many.
Here are our Top 10 Homebuying Tidbits:
- The days of first-time homebuyer assistance programs are not over! First-timers still have access to dozens of programs that can help make down payments more affordable, making your dream home a reality.
- Enjoy the tax savings that come with home ownership. There are many positive tax implications to owning a home. Interest and Property Taxes are able to be deducted from your income on federal taxes (see your tax professional) which can substantially reduce the amount of income taxes you will owe. The savings can greatly reduce the cost of home ownership.
- Today’s real-estate market climate is one for the books. The combination of historically low interest rates and extremely affordable homes makes now the perfect time to purchase a home. Top it off with added government incentives and this already favorable market keeps looking better and better.
- You CAN buy a new home. The mysterious fog that surrounds the home-buying process stops consumers right in their tracks. At AV Homes we’ve simplified that process making your home buying experience a pleasant one with an approachable team of consultants and lenders. Before you decide you can’t, come see why you CAN.
- Renting may not be the deal you think it is. With an increase in demand for single-family homes, rent prices have increased almost 4.5% faster than wages over the years taking a bigger chunk of your paycheck. This year alone, rentals are anticipated to climb 3.5% while the prices of homes are only predicted to rise 2.5%. *According to Zillow and World Property Journal
- When looking at the bigger picture, you’ll find that hitting the break-even point comes sooner than later. Traditionally, break-even points aren’t seen until 5-7 years later after the purchase of a home.
- There’s a home just for you. Homebuilders, like AV Homes, have delivered new homes to satisfy whatever phase in life you may find yourself. From first-timers to active adults, we’ve incorporated in each of our communities a home to suit your lifestyle in a price-range that won’t turn your budget upside down.
- In terms of energy-efficiency, quality and security, there’s no peace of mind like owning a new home. With advances in technology that directly decrease your monthly expenses, your pockets will feel the love too.
- Equity! As a home appreciates in value over the years, you the homeowner gets to capture that increase in the form of equity. Opposed to an increase in rent where the only thing you capture is an increase in your expenses.
- Pay off your home instead of someone else’s! A mortgage is like a savings plan. With each payment going towards the principal of your home, you know exactly where your money is going. Better yet, now you have something to show for it which is something you don’t get while renting.
At the end of the day we all need somewhere to live so why not love the home you’re in. One of the most exciting appointments after purchasing a new home is the one with the design team. From fixtures to flooring, your new home will be designed just the way you want it with a process that keeps you informed every step of the way.