3 Benefits to Buying Your Dream Home This Year
Outside of a strong economy, low unemployment, and higher wages, there are three more great reasons why you may want to consider buying your dream home this year instead of waiting.
1. Buying a Home is a Great Investment
Several reports indicate that real estate is a good investment, topping other options such as gold, stocks, bonds, and savings. Why? Real estate helps build equity, a form of investing for you and your family. According to CoreLogic’s Equity Report,
“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.”
This means the average homeowner gained approximately $5,300 in equity over the past year. If you want to start building your equity, put your housing costs to work for you through homeownership this year.
2. Mortgage Interest Rates Are Low
The Primary Mortgage Market Survey from Freddie Mac indicates that 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 a yearly average of 3.8% in 2020.
When you purchase a home at a low mortgage rate, it will impact your monthly mortgage payment, giving you the opportunity to buy more house for your money.
3. Investing in Your Family is a Win
There are some renters who haven’t purchased a home yet because they’re uncomfortable taking on the obligation of a mortgage. Everyone should realize that, unless you’re living rent-free with your parents, you’re paying a mortgage – either yours or that of your landlord.
Today, rental prices continue to increase, and when you’re paying your landlord’s mortgage instead of your own, you’re not the one earning the equity. As an owner, your mortgage payment is a form of ‘forced savings’ you can use later in life to reinvest in your family. You can use it for a variety of opportunities, such as saving for your children’s education, moving up to a bigger home, or starting your own business. As a renter, it can be more challenging to achieve those types of dreams without home equity working for you.
Bottom Line
Buying a home sooner rather than later could lead to substantial savings and long-term financial growth for you and your family. Let’s get together to determine if homeownership is the right choice for you this year.
Steps to Take Between Mortgage Closing and Moving Day
After closing on your mortgage, follow this checklist to prepare for moving into your new home. Change your address with the Post Office and update utilities. Review your inspection report for necessary repairs and create a maintenance schedule. Deep clean your new...
Guide for First-Time Homebuyers
Buying your first house can be both exciting and overwhelming. Resources are available to empower you with the knowledge needed for homeownership. You can save up to $1,250, and if you find lower costs elsewhere, there are incentives. Local experts are available to...
Housing Market Predictions 2025
In 2025, the housing market shows slow stabilization with mortgage rates declining from near 7%, boosting buyer interest. Home sales remain sluggish but may rise 6% by year-end, while prices continue modest growth due to limited supply. Inventory has increased,...
What Mortgage Rate Will Get Buyers Moving?
A 6% mortgage rate could make homes affordable for 5.5 million more households, potentially unlocking major buying activity across key U.S. metro areas. NAR forecasts rates falling to 6% by 2026, possibly increasing home sales 14%. Current high rates and inventory...
Homeowner Equity Grows Even as Home Prices Dip
After 3 quarters of slipping, equity-rich homes finally ticked up in Q2 2025. ~50% of U.S. homes with mortgages are now equity-rich. Equity-rich = owing less than 50% of your home’s value. In just one quarter, equity-rich homes jumped from 46.2% to 47.4% nationwide....
Is a 31% Boom in Home Prices Possible by 2029?
US home prices ↑ 19.8% cumulatively from 2025 to 2029, averaging ↑ 3.7% annual growth. Annual growth accelerates to ↑ 10.8% by 2027, then reaches ↑ 19.8% cumulative increase in 2029. Optimistic forecasts predict up to ↑ 31% total growth by 2029, pessimistic as low as...
Happy Labor Day
Happy Labor Day! Labor Day is a day dedicated to honoring the contributions and achievements of workers and the labor movement. It marks summer's informal end in the U.S., as schools often start after the holiday. It offers a chance to ponder the historical...
8 Tips For First-Time Homebuyers
First-time homebuyers should follow eight essential steps: assess debt and ensure a manageable debt-to-income ratio, check and correct credit score errors, review budget for additional costs, determine down payment, get preapproved for a mortgage, identify desired...
2.25% Fed Rate: Coming by 2027?
Fed projects a 2% in rate cuts by end of 2027. Forecast: Fed funds rate to decline to 2.25%–2.50% by late 2027. Despite tariff-driven inflation bumps, slowing growth will push Fed to cut further. 10-year Treasury yield forecast to fall to 3.25% by 2028, down from 4.2%...
2025 Housing Forecast: Housing Prices up 3%
The experts forecast a 3% national housing price increase in 2025 due to limited supply. High mortgage rates discourage homeowners from selling, keeping supply low and supporting price stability.
