Whether you’re buying or selling today’s housing market has plenty of good news to go around.
Buyers can take advantage of today’s mortgage rates to escape rising rents and keep monthly payments affordable. Sellers can reap the benefits of multiple offers and a fast sale.
RENT or BUY?🏘
When deciding whether you should rent or buy, make sure you’re considering these factors.
Buying a home means consistent monthly payments. Homeownership helps to build your wealth. Owning a home also gives you greater flexibility than renting!
An increase in equity builds the wealth of the individual that owns it. This wealth can be passed down to future generations.
EQUITY: The value in your home above the total amount of the liens against your home.
Owning a home is one of the best ways to grow your wealth over time. House wealth can impact generations. In many cases, the largest single investment a household has is their home. As that investment appreciates in value, the financial options also increase.
What does 2022 hold for the housing market?
1. Mortgage rates are projected to rise in 2022, yet still remain historically low
2. Home prices will continue rising due to low housing supply and higher buyer demand
3. Home sale’s projected to be strong as people move to meet needs
Applying for a mortgage is a big step toward homeownership, but it
doesn't need to be one you fear. Steps to help you prepare to buy a home.
1. Know Your Credit
2. Organize Your Documents
3. Lean on the Professionals
4. Discuss Loan Types and Terms
5. Get Pre-Approved