As we’re getting into the first month of 2020, who all had the resolution to finally buy their dream home? It’s a common goal every year, but this one may be a better time than others! Besides having a strong economy, lower unemployment and higher wages, here are some other benefits.
Mortgage interest rates have reportedly lowered since November of 2018 when they hit 4.94%. On the Primary Mortgage Market Survey from Freddie Mac, 2020 and 2021 is looking very optimistic for the housing market. Interest rates are expected to stay lower, with an average of 3.8% expected throughout the year.
Buying a home is a huge investment, meaning the earlier you do it, the better. It is one of the top ways to provide long-term financial growth, named a better investment than options such as gold, stocks, bonds, and savings. According to CoreLogic, “U.S. homeowners with mortgages (roughly 64% of all properties) have seen their equity increase by a total of nearly $457 billion since the third quarter 2018, an increase of 5.1%, year over year.” That means the average homeowner gained $5,300 last year.
Rent seems to be increasing every year. And, unfortunately, a lot of people can afford to buy a home, but are uncomfortable with taking on the responsibility of a mortgage. One thing to understand though, you are paying a mortgage no matter what. The question is, who’s gaining equity? If you’re renting, you’re paying your landlord’s mortgage, with none of the benefits. Consider investing in your future!
West Main’s Neighborhoods!
Possibly the best reason to buy this year is because we only have a few options left in Sugar Creek Park. Our last 2 homes are complete and move-in ready. One is located at 1940 Yellow Finch Trail and has 3 bedrooms/2.5 baths with a 2 car garage. 2022 Yellow Finch Trail is our Model Home and is filled with upgrades! It is truly a dream home! This one has 4 bedrooms/3.5 baths with a one car garage. Come see them both this weekend! Call Jennifer at 770-630-6567 to make an appointment.
2022 Yellow Finch Trail, Atlanta GA 30316
1940 Yellow Finch Trail, Atlanta GA 30316