Home ownership rates are the lowest they have been in the last 50 years. Yet a large portion of Americans are still renting properties, instead of enjoying a home of their own. Consumer reports believe this is an issue because of a buyer's lack of trust in their ability to purchase. It is still a long standing notion that a buyer needs 20% towards the cost of the home in order to move forward, but this isn't true. With countless down payment assistant programs, and closing cost roll-ins, a home owner could move in with as little as a few hundred to a couple thousand dollars. Which is a huge difference in the time it takes to save up to make the move.
With interest rates at an all time low, home ownership in today's market is a great investment. The money saved over a mortgage's lifespan can result in tens of thousands of dollars, if not hundreds. That's more money in your pocket today. Don't wait to buy when interest rates soar again. With low interest rates, that means your monthly mortgage payments are at a significantly lower cost, as well. With such a heated housing marketing, rental prices are soaring, and statistics are constantly showing that home ownership can be equivalent to your rental rate each month, if not less. Why get stuck in a small 2 bedroom apartment, if you can move into a home a pay a monthly rate that is the same, and get a 3 bedroom house with a great backyard?
There is also a fear that a home can keep you "stuck" or "rooted" to one place, without an easy transition out if you decide to move. Although the future of the housing market isn't easily predictable from location to location, you can always discuss with your agent about buying a home in an area that has a strong turn-over rate when a home hits the market. The equity build up when it comes time to selling is going to be far more beneficial, than if you put money into a rental and decided to move. The money from selling the property can be used to purchase a new home. With renting, there would be no additional funds to transition into a new place.
Now imagine if you were renting a home for $2000/month. If your landlord is renting to make a profit, think how much less you'd be paying on a monthly basis towards your mortgage, if the home was yours. Then you wouldn't be paying a landlord to profit off of you, you'd be paying a reasonable rate, and get to call the property your own. Discuss with your agent and lender the steps you need to take towards home ownership, you might be happily surprised about the type of home you can afford to move into. Click>>>Hereto start browsing all available homes for sale!
Please contact me today and take the first step to becoming a homeowner! I will guide you through every step of the purchase to make it a smooth and enjoyable home buying experience for you :-)
Jill Tebeau, Realtor
Author:Jill Tebeau Phone: 407-301-5845 Dated: June 9th 2017 Views: 440 About Jill: Jill has been helping buyers and sellers achieve their Real Estate goals in the Disney area for year...
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EXIT Realty Champions', Champions Gate Real Estate Office, by Reunion Resort Orlando, is a full service Real Estate Brokerage Office in Champions Gate, Davenport 33896, next to Reunion Resort in 34747. Search for homes for sale with our Realtors, local experts in Champions Gate, Reunion Resort, Kissimmee and Davenport FL. This being the main area for resort vacation homes that can be rented out to meet the Disney World Orlando>, Universal Studios and other theme park market.
Alternatively, if you are looking for a new place to live, Our Realtors can help you find the perfect home in the Orlando, Kissimmee, Davenport, Clermont area known as the Four Corners, where Osceola, Lake, Orange and Polk Counties come together, Next to Disney and the Theme Parks.
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Rest assured that EXIT Realty Champions will Champion your housing needs, whether buying or selling one of the biggest investments you have, your home.
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"Lance helped us close on a home in 21 days. As a retired military officer I had high expectations for the home buying process in central Florida. Lance helped us locate financing, select a title company, get through the inspection process and utilizing a VA loan meeting our tight deadlines. Lance is bilingual and speaks Spanish fluently which helped us greatly as my wife's first language is Spanish. His local knowledge ensured that we were well informed throughout the purchase process. His extensive understanding of FRPTA provided me the confidence to purchase my home from a foreign investor. He also helped with permit concerns which guaranteed we would have no surprises down the road with our purchase. Lance conducted a market analysis that was a spot on to the value of the home and the appraisal actually was higher than his estimate. If you are moving to central Florida this realtor is the best in the business and if you are a veteran you would be in safe hands working with Lance, who is a retired Air Force Officer, who will look out for your best interest and help you find the home you are looking for. Thank you Lance Whipple for helping us purchase our new home."