It has never been a better time to buy a home. You work hard, play hard and now is the time to invest in your future savings. Don't you owe it to yourself to take the next step?!
Unprecedented low interest rates make it possible to do so. With so many first-time homebuyer programs on the market, I can point you in the right direction. Today's 30 yr. mortgage is at 2.57% with good credit.
Here's an example of Renting Vs Buying:
- Dave S. rents a 600 Sq.Ft apartment within the city. He pays $3600 monthly = $3600 monthly- NO EQUITY
- Joanne B purchases a 2000 ft, 4-bedroom, single family residence in the suburbs with 20% down. $3600 monthly = EQUITY IN THE BANK
Both Dave and Joanne pay exactly the same amount of $43,200 annually. At the end of the lease term, Dave moves out of his rental and is out of pocket $43,000. He made his landlord rich, but has nothing to show in his pocket.
The Greater Boston Real Estate has weighed in on home sales:
First-time buyers were responsible for 32% of sales in October, up from the 31% in both September 2020 and October 2019. NAR's 2020 Profile of Home Buyers and Sellers revealed that the annual share of first-time buyers was 31%. Individual investors or second-home buyers, who account for many cash sales, purchased 14% of homes in October, a small increase from the 12% figure recorded in September 2020 and equal to October 2019. All-cash sales accounted for 19% of transactions in October, up from 18% in September but unchanged from October 2019.
Please call/email/ text for additional information. I love working with first time homebuyers and the gratification they receive in home ownership.
Wishing all of you a HAPPY AND HEALTHY 2021.