5 Good Reasons to Buy a Home Now

I know there’s always some reason to buy, or not to buy.

Is the time right? Have we hit the bottom of the market? Can I get a good value, or the right price? Will interest rates go down? Can I qualify for a mortgage?

While you may want to defer your purchase for any of these  reasons, buying a home remains a wise long term economic decision for most of us:

Call, text, or email me today! … I’d seriously enjoy having the opportunity to talk to you about your plans if you’re moving, or if you know someone who is considering a move, and needs some straight answers.

1. Homes can provide an excellent return on investment (ROI). Although historic annual home appreciation rates are modest, the purchase is usually highly leveraged. If you put 10% down, a modest 3% annual increase in your home’s value represents a 30% ROI.

2. There are many opportunities to gain sweat equity. For example, a well landscaped home can be worth thousands more than a home with a barren landscape. You don’t have to spend that much to get such a return. Buy a shovel and a bunch of small $5-$20 shrubs and trees, and wait a few years. Do your own remodeling (or some of the finish work, such as painting and trim) and those projects can add more to your home’s value than they cost.

3. A landlord can (and will) raise your rent, but a lender can’t raise your mortgage interest rate (assuming that it is a fixed rate mortgage).

4. Many people pay off their mortgage by the time they retire. With no more mortgage payments, they are able to live comfortably on modest retirement income sources. The equity is also transferrable—many homeowners who move to different locales after retirement simply roll the equity from their old home into a paid off retirement home. A lifelong renter may well have paid more in aggregate for housing over their career, but they will still have to pay rent and many find that this additional expense severely cramps their retirement lifestyle.

5. Most owner-occupied neighborhoods have a sense of community that results from a relatively stable set of residents. That rarely happens in rental environments, where the residents of the neighboring apartments may come and go before you even meet them.
Key to a smart decision on whether or not to buy a home now is research into your current market outlook. There is plenty of research data on the Internet regarding the likely market direction of your area. Experienced real estate agents can also provide very useful local market insight.

Courtesy of the American Homeowners Foundation and the American Homeowners Grassroots Alliance, www.AmericanHomeowners.org.

Thinking about buying a new home, getting ready to sell, or know someone who plans to move? I think we should talk.

Call, Text, or Email me. I will listen carefully to you.

You may also find my neighborhood profiles, and Boulder business profiles informative and useful. They’re both great ways to learn more about what’s going on in Boulder. Call, Text, or Email me today!

Zachary Epps, GRI, ABR, REALTOR®, full-time RE/MAX professional, and author of the Boulder Real Estate and Neighborhood Guide.

Also, I’m never too busy for your referrals. As a real estate professional intent on giving back to the community, my relationship-based approach is exactly what you’ve been looking for in a helpful RE/MAX Professional.

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