Homeowners should always look at their home as an investment. While you’re paying off the mortgage principal, you’re building equity. Along with that, the value of homes usually will rise over the years. It’s really time to buy a house.
Homeowners that have sod their homes this year so far have actually made a huge profit, averaging in the middle 5-figures. A home purchase is an economic ticket to financial freedom.
The data from ATTOM Data Solutions says it all. They surveyed homeowners that sold their homes during the first quarter of this year. What they found was really exciting for homeowners and future homeowners:
On average, homeowners gained $57,000 on their home since they purchased it, which is up from this quarter last year.
On average, it’s a 31.5% return over the price of the original purchase, selling after 8 years, or average.
What does this mean for home buyers?
It means that owning a home is a great way to build wealth and secure your future. It’s a way to make an expense that you’re already paying (housing) work for you to help make you money.
With interest rates low and home values continuing to rise, there’s no reason not to buy a home right now. The housing market is building steam and there are hungry buyers in every city ready to buy. However, if you’re reading this, you know that other interested buyers are as well.
The best way to become a homeowner and achieve your dream of buying your home is to work with an experienced mortgage lender. Getting pre-approved before you shop and knowing what you can afford is the first step towards buying your new home.
Make sure that you check your credit, know your budget, and understand the market before you buy. A great way to accomplish that is to work with a top lender who can help you through all of the ins-and-outs of the buying process.
Call the best mortgage lender, The Home Loan Expert Team in St. Louis at (314) 781-9700, Chicago at (773) 770-4727, Indianapolis at (317) 550-1515, Nashville at (615) 810-8555 or Birmingham, AL at (205)721-7656. You can always apply online at hero.loan for your VA Loan, and www.thehomeloanexpert.com for your other mortgage needs, and we’re also open on Saturdays and will come to you to help close your loan. We work hard to make it easy on you. Nobody gets lower mortgage rates on better loans than The Home Loan Expert, Ryan Kelley, why go anywhere else?