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3 Ways You’ll Win When You Buy a Home This Year

3 Ways You’ll Win When You Buy a Home This Year | Simplifying The Market

There are so many great reasons to purchase a home, and over the past year, we’ve realized more of them than we ever thought possible. If you’re a first-time homebuyer, having a home of your own can give you a greater sense of security and accomplishment in a time that’s largely uncertain. If you’re a repeat buyer looking for your dream home, making a move might give you the space or features you need to find greater success and happiness in a new normal way of life. Whatever your motivations are, here are three reasons why becoming a homeowner now may help you win big in the long run.

1. Buying a Home Is a Great Investment

Several recent reports indicate that real estate is still a good investment, topping other options such as gold, stocks, bonds, and savings. Why? Real estate helps you build equity, a type of forced savings that grows your net worth. According to the latest Equity Report from ATTOM Data Solutions:

“The count of equity-rich properties in the fourth quarter of 2020 represented 30.2 percent, or about one in three, of the 59 million mortgaged homes in the United States. That was up from 28.3 percent in the third quarter of 2020, 27.5 percent in the second quarter and 26.7 percent in the fourth quarter of 2019, despite the ongoing economic damage caused by the worldwide Coronavirus pandemic.”

2. Mortgage Interest Rates Are Low

The Primary Mortgage Market Survey from Freddie Mac indicates interest rates for a 30-year mortgage have fallen since November 2018 when they hit 4.94%. In their latest forecast, Freddie Mac expects rates to remain low, leveling out to an average of 2.9% in 2021.

When you purchase a home at a low mortgage rate, it will impact your monthly mortgage payment, giving you the opportunity to likely get more house for your money.

3. Investing in Your Future Pays Off

There are some renters who haven’t purchased a home yet because they’re uncomfortable taking on the obligation of a mortgage. What many renters don’t realize, though, is the financial power of equity.

As a homeowner, your monthly mortgage payment becomes a form of ‘forced savings’ you can reinvest later in life as you see fit. You can use it in a variety of ways, like to fund a loved one’s education, move up to a bigger home, or start your own business. As a renter, you’re actually growing your landlord’s equity instead of your own.

If you’re ready to put your monthly payments to work for you and take steps toward those dreams and goals, purchasing a home may be the way to go, especially as rental prices continue to rise.

Bottom Line

Buying a home sooner rather than later could lead to substantial savings and long-term financial growth. Let’s connect to determine if homeownership is the right choice for you this year.


Source: KMC

Posted in: First Time Home Buyers, For Buyers, Interest Rates Tagged: Real Estate

© Margo Borkin Real Estate 2010

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« Why It’s Easy to Fall in Love with Homeownership [INFOGRAPHIC]
Millennials: Is It Time to Buy a Bigger Home? »
Comments Box SVG iconsUsed for the like, share, comment, and reaction icons
Margo Borkin Real Estate
4 hours ago
Margo Borkin Real Estate
Planning to sell soon? Hit a HOME run as as a seller by avoiding these seller strikeouts. ⁣
⁣
• Don’t take low offers personally. ⁣
• Don’t overprice your home "just to see" if anyone will bite".
• Don't underestimate the importance of listing photos.⁣
• Don't hide major issues from your agent.⁣
• Don’t hang around during showings or leave pets roaming around.⁣
• Don’t hide your thoughts from your agent.⁣
⁣
Selling a home is incredibly exciting and sometimes stressful. Hiring an agent to guide you through the entire process is the right choice if you want to actually ENJOY selling your home.⁣
⁣
Was this info helpful? Tag someone who needs to see this!⁣

#oaklandcountymichigan #oaklandcountyrealestate #oaklandcountymi #oaklandcounty
... See MoreSee Less
Planning to sell soon? Hit a HOME run as as a seller by avoiding these seller strikeouts. ⁣
⁣
• Don’t take low offers personally. ⁣
• Don’t overprice your home just to see if anyone will bite.
• Dont underestimate the importance of listing photos.⁣
• Dont hide major issues from your agent.⁣
• Don’t hang around during showings or leave pets roaming around.⁣
• Don’t hide your thoughts from your agent.⁣
⁣
Selling a home is incredibly exciting and sometimes stressful. Hiring an agent to guide you through the entire process is the right choice if you want to actually ENJOY selling your home.⁣
⁣
Was this info helpful? Tag someone who needs to see this!⁣

#oaklandcountymichigan #oaklandcountyrealestate #oaklandcountymi #oaklandcounty
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Margo Borkin Real Estate
3 days ago
Margo Borkin Real Estate
It's the question every homeowner asks at one point or another: Should I sell or should I remodel? Here are a few questions to ask as you make the king-size decision.⁣
⁣
First up, Team Remodeling: ⁣
• Do I love my current home's location? ⁣
• Do I have space (inside and out) for an addition?⁣
• Will remodeling address my biggest concerns about my home? ⁣
• Do I have a place to temporarily move during the remodel (or the patience of a saint to live in an "under construction" house)?⁣
A YES to most of the above means remodeling is probably in your future.⁣
⁣
Next up, Team Time-to-Move:⁣
• Do you anticipate needing more space than a remodel can provide in the next 5 years? (more bedrooms, bathrooms, etc.)⁣
• Will remodeling put your home above neighborhood value?⁣
• Would you prefer a home that's closer to your everyday places (work, school, shopping) or do you desire a different school district or a larger lot?⁣

Resonate with these questions? Find a realtor and at the very least, take a look at what's on the market. Sometimes moving in one direction is just what you need to clarify your thinking.⁣
⁣
Whether you're leaning towards remodeling or moving, send me a message. I'd love to do a quick analysis on your neighborhood and give you the stats you need to go along with your intuition!

#oaklandcountymichigan #oaklandcountyrealestate #oaklandcountymi #oaklandcounty
#realestateexperts⁠
#iloverealestate⁠
#realestatexpert⁠
#realtorslife⁠
#realestateforsale⁠
#sellinghouses⁠
#realestateagent⁠
#realtorsofinstagram⁠
#realtorsofig⁠
#realestatelife⁠
#realtorsofinsta⁠
#instarealestate⁠
#realtorstyle⁠
#realestateblogger⁠
#realestateblog
... See MoreSee Less
Its the question every homeowner asks at one point or another: Should I sell or should I remodel? Here are a few questions to ask as you make the king-size decision.⁣
⁣
First up, Team Remodeling: ⁣
• Do I love my current homes location? ⁣
• Do I have space (inside and out) for an addition?⁣
• Will remodeling address my biggest concerns about my home? ⁣
• Do I have a place to temporarily move during the remodel (or the patience of a saint to live in an under construction house)?⁣
A YES to most of the above means remodeling is probably in your future.⁣
⁣
Next up, Team Time-to-Move:⁣
• Do you anticipate needing more space than a remodel can provide in the next 5 years? (more bedrooms, bathrooms, etc.)⁣
• Will remodeling put your home above neighborhood value?⁣
• Would you prefer a home thats closer to your everyday places (work, school, shopping) or do you desire a different school district or a larger lot?⁣

Resonate with these questions? Find a realtor and at the very least, take a look at whats on the market. Sometimes moving in one direction is just what you need to clarify your thinking.⁣
⁣
Whether youre leaning towards remodeling or moving, send me a message. Id love to do a quick analysis on your neighborhood and give you the stats you need to go along with your intuition!  

#oaklandcountymichigan #oaklandcountyrealestate #oaklandcountymi #oaklandcounty
#realestateexperts⁠
#iloverealestate⁠
#realestatexpert⁠
#realtorslife⁠
#realestateforsale⁠
#sellinghouses⁠
#realestateagent⁠
#realtorsofinstagram⁠
#realtorsofig⁠
#realestatelife⁠
#realtorsofinsta⁠
#instarealestate⁠
#realtorstyle⁠
#realestateblogger⁠
#realestateblog
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Margo Borkin Real Estate
3 days ago
Margo Borkin Real Estate
Our next FAF (Frequently Asked Friday) is often a source of confusion when buying a home. Let me clear it up once and for all!⁣
⁣
Q: Can you show me any house on the market or only the ones you have listed?⁣
⁣
A: Any licensed real estate agent (that’s me!) can show any home that’s listed for sale in the Multiple Listing Service (MLS)—not just the ones they have listed. ⁣We can also arrange showings with for sale by owner properties, and even "pocket listings" that may not be fully on the market yet.
⁣
So while you’ll see an agent’s name and brokerage firm on the listing, that agent isn’t the only one who can show the home. (In fact, it’s advantageous NOT to use the listing agent. As a buyer, you need a dedicated advocate all your own. Not one already looking out for the seller.)⁣
⁣
See a home you like and want to schedule a showing? Stop thinking about it and get inside it—send me a message and let’s go check it out!⁣
... See MoreSee Less
Our next FAF (Frequently Asked Friday) is often a source of confusion when buying a home. Let me clear it up once and for all!⁣
 ⁣
Q: Can you show me any house on the market or only the ones you have listed?⁣
 ⁣
A: Any licensed real estate agent (that’s me!) can show any home that’s listed for sale in the Multiple Listing Service (MLS)—not just the ones they have listed. ⁣We can also arrange showings with for sale by owner properties, and even pocket listings that may not be fully on the market yet. 
 ⁣
So while you’ll see an agent’s name and brokerage firm on the listing, that agent isn’t the only one who can show the home. (In fact, it’s advantageous NOT to use the listing agent. As a buyer, you need a dedicated advocate all your own. Not one already looking out for the seller.)⁣
 ⁣
See a home you like and want to schedule a showing? Stop thinking about it and get inside it—send me a message and let’s go check it out!⁣
View on Facebook
· Share
Share on Facebook Share on Twitter Share on Linked In Share by Email
View Comments
  • Likes: 2
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