Many people are faced with the choice to choose between buying or renting their home. With today's low mortgage rates the option to buy has never been more attainable. Not only do you have the security of knowing your home is your own, buying gives you the opportunity to build your own portfolio instead of simply giving money to a landlord. Here are three simple reasons you should consider buying!
1. Low Mortgage Rates
According to Washington Post, in August of this year, interest rates hit their lowest levels ever, meaning that even more of your mortgage payments go toward your assets. That makes this year the best time yet to buy a home. There’s no time like the present!
2. Build Wealth
When you rent, you end up spending hundreds of dollars a month without adding to your net worth. Instead, buy a home and consider your mortgage an investment. Since your net worth is equal to your assets minus debts, each time you pay the mortgage bill, you add to your wealth. In fact, the US Census Bureau says that homeowners have a net worth 80 times larger than renters. Build your net worth every month by putting your renter’s payment towards home ownership instead.
3. Safe Investments
“Real estate has proven to be one of the best investments of all time,” according to Forbes. When stocks and inflation are unsteady, real estate goes relatively untouched by broader market instability. Since homes almost never lose value, real estate is an ideal portfolio addition for a beginning investor. In fact, now is a great opportunity to take advantage of property values going up the hot Scottsdale market!
It is possible for you to buy a home! Please contact us or our preferred lender for more information on the availability of low mortgage rates and how you can become the homeowner of one of our luxury townhomes!