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

by

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.

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.

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.

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.

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

Perspective Matters When Selling Your House Today

It shows supply this year has surpassed 2021 levels by over 30%. But the further back you look, the more you’ll understand the big picture. Compared to 2020, we’re just barely above the level of inventory we saw then. And if you go all the way back to 2019, the last normal year in real estate, we’re roughly 40% below the housing supply we had at that time.

Why does this matter to you? When inventory is low, there is still demand for your house because there just aren’t enough homes available for sale.

169 Klondike Rd, Dudley, MA 01571

Custom designed & built w/ incredible attention to detail & hardwood throughout. Almost a 1-acre private parcel across from Pierpont Meadow Pond you’ll enjoy water views from many locations in the property. Easy one level living w/ the opportunity to finish the 2nd floor, basement or above the detached garage. The main floor offers a private main bedroom w/ walk in closet & bath. Two additional, generous sized bedrooms at the opposite side of the property with 2nd full bath. Open kitchen, dining room and living room with beautiful stone fireplace and plenty of windows/glass doors to let in natural light. The 2nd floor is complete with windows, skylights, electric, rough plumbing & a/c. The yard has welcoming entertaining space with an oversized deck, in-ground saltwater pool, patio & stone fire pit. Looking for work at home space, check out the 2nd floor of the detached garage, perfect for office or rec. room. Laundry on main level and Buderus heating system.

A Window of Opportunity for Homebuyers

The housing market is undergoing a shift because of higher mortgage rates, but the market is still strong. If you’ve been looking to buy a home over the last couple of years and it felt impossible to do, now may be your opportunity.

Contact Diane

Diane Casey Luong

Diane Casey Luong

Realtor

Realtor at RE/MAX Advantage I, Buying Real Estate Agent, Seller Real Estate Agent, Listing Real Estate Agent

DIANE-CASEY-LUONG-BUYERS-GUIDE

You may be wondering if now is a good time to buy a home…or if interest rates are projected to rise or fall. The free eGuide above will answer many of your questions and likely bring up a few things you didn’t even know you should consider when buying a home.

It’s difficult to know when is the best time to sell, or how to get the most money for your house, but you don’t need to go through the process alone.

You may be wondering if prices are projected to rise or fall…or how much competition you may be facing in your market. The free eGuide below will answer many of your questions and likely bring up a few things you haven’t even thought about yet.

Award Logo for ReMax

2015

RE/MAX 100% Club
Diane achieved levels of productivity in 2015 that were more than double the industry average with commission levels of $100,000 – $249,999

Award Logo for ReMax

2016

RE/MAX 100% Club
Diane achieved levels of productivity in 2016 that were more than double the industry average with commission levels of $100,000 – $249,999

Award Logo for ReMax

2017

RE/MAX 100% Club
Diane achieved levels of productivity in 2017 that were more than double the industry average with commission levels of $100,000 – $249,999

Award Logo for ReMax

2018

RE/MAX 100% Club
Diane achieved levels of productivity in 2018 that were more than double the industry average with commission levels of $100,000 – $249,999

Award Logo for ReMax

2019

RE/MAX 100% Club
Diane achieved levels of productivity in 2019 that were more than double the industry average with commission levels of $100,000 – $249,999

dianes-ruby-award-2016

2016

Realtor™ Association of Central Massachusetts
2019 Top Producers, Ruby Level

realtor-association-2019

2019

Realtor™ Association of Central Massachusetts
2019 Top Producers, Ruby Level

Working with Diane was an absolute pleasure and joy.

She was incredibly professional yet still warm and personable. I always felt that Diane had my best interests in mind; she never pressured me into anything and always worked to get me all the information I needed before making a decision.

Diane had great knowledge of the housing market in the area and the pros and cons to look for when looking at homes.

During the finalization process, Diane was able to refer me to an excellent home inspector and other individuals necessary for the closing.

I wholeheartedly recommend Diane and would use her again if I am lucky enough to buy another home or sell my own.

Bought a Townhouse home with Diane in 2016 in Worcester, MA.