Your a Winner When You Buy a So. Oregon Home in 2021

You’re a Winner When You Buy a Home in 2021

There are lots of good reasons to buy a home.  Are you a first-time homebuyer? Owning your own home can give you a greater sense of security. This helps in the uncertain times we are in now. It can give you a big sense of accomplishment.  If you’re a move up buyer looking for your perfect home, making a move might give you the space or features you need to be more comfortable.

There are many price ranges and neighborhoods in Medford, Ashland, Grants Pass and other towns in Jackson and Josephine Counties. This makes it easier to buy your first home or move up to a larger home. There are a number of reasons to buy or move up.

• Home in Any Price Range 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.”

•  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. Buying a Home is a Wonderful Investment for the Future

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. You build savings rather than paying for your landlords mortgage!

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.

Final Word

Don’t wait, Buy a home now rather than later. Start your savings and long-term financial growth. Call Alice Lema (541) 301-7980 and she can walk you thru finding a lender, getting qualified and moving towards buying a home this year!