Purchasing a home has always been considered an important milestone in life and a solid investment for your future. Being a homeowner also gives you the freedom to personalize your home however you like and change it up whenever you want! You never have to deal with a bad landlord again. Are you thinking what we’re thinking? Now is the right time to stop renting and buy with Olson Homes!
If you are you struggling to decide if now is the right time to purchase a home, here are three of the main benefits to becoming a homeowner in 2020:
Interest Rates Are Low
Good news! Interest rates are at a historic low, which means buying a home NOW can save you money! Average rates are currently at approx. 3% and at the end of 2019 average rates were at approx. 3.875%. With this lower rate, you could save almost $300 a month on your mortgage payment compared to if you had bought a home in 2019!* Don’t miss your chance to lock in a great rate and buy your new dream home this summer!
*Based on the average loan amount of approx. $600,000 with a 20% downpayment. Contact our Home Advisors for more information.
While renting is an affordable short-term solution, those payments aren’t an investment in your future. Purchasing a home could save you more money long term, and most homes appreciate in value, so someday you could sell it for a profit! There are also many tax benefits that come along with homeownership. Our Home Advisors would be happy to go over all of the reasons why you should buy vs. rent a home!
As many renters know, there’s always a threat of a rent increase every year when you renew your lease. This could leave you with the challenge of looking for a new place to live within your budget on very short notice which no one wants to do! When you own a home, you can live on your own terms and with a fixed-rate mortgage, you never have to worry about your monthly mortgage payment increasing. You don’t have to deal with a difficult landlord and you’ll have a better idea of how much your bills will be every month. Plus, nothing beats having a reliable place to call home sweet home.
If you’re interested in purchasing a home in one of our Olson communities, our friendly Home Advisors are here to help you on the road to homeownership! Explore our communities now selling throughout Orange County and Los Angeles.