Houses Are a Good Investment
As the old saying goes, “Owning a home is the most valuable investment you can make.” In addition to providing a safe, comfortable place for your family to live, owning a house provides a number of other benefits that make it a smart financial decision. Buying a home can also help you build equity, which is the amount of money that you have accumulated on your home, after subtracting all of your debts (including mortgage payments, credit card bills and other liabilities).
It’s Time for You to Buy Your Next House
There are many factors to consider when deciding whether or not now is the right time to buy a house. It’s important to take a hard look at your finances, including your income, interest rates, home prices and the amount of savings you have.
If you’re earning unsteady income or have a limited savings fund, waiting until your situation improves may be a better choice. While owning a home can be a fantastic experience, it comes with many obligations, and you must be certain that you’ll be able to afford them.
In most housing markets, it’s much more affordable to We Buy Houses than to rent one. The monthly costs of a homeownership loan (including the interest, closing fees and home insurance) are often far less than the cost of renting an apartment or condo. In fact, according to ReatlyTrac, a recent survey shows that in 58% of markets across the country, purchasing a home is typically cheaper than renting a comparable unit.
Paying Your Mortgage on Time and Having a Stable Job
Owning a home is one of the best ways to establish a strong financial foundation for your future. In addition to providing a stable place to live, owning a home can improve your credit score and help you save for retirement. Moreover, because houses generally go up in value over time, investing in one can also be a great way to increase your wealth.
It’s a good idea to shop for a new home during the spring, when interest rates are low and home prices are more attractive. You’ll be able to find a variety of homes for sale, including newly constructed homes that haven’t been snatched up by would-be homeowners yet.
You should always be sure to have a professional conduct a thorough inspection before making an offer on a house. Not only will this give you an opportunity to renegotiate if problems are discovered, but it can help you negotiate for a better price.
If the inspector finds structural issues with your potential home, you’ll have the option of putting off your purchase or paying a lower price to cover any repairs. You can also ask your real estate agent for recommendations for a home inspector, as they’ll likely have good referrals for those who can help you.
While selling your home to a We Buy Houses company can be convenient, it’s important to remember that most of them don’t offer more than 70% of the market value of your home. Some companies will offer more than that, but the deal will be non-negotiable and you’ll have to accept it if you want to sell it.