Now, you can either rent that $1,300 Elk Grove home OR possibly BUY a $200,000 house (at today's low mortgage rates) with a similar monthly payment! And you don't have to raise the huge down payments of years past. It's a fixed rate loan, so there are no big future surprises.
The reason to buy? Some day your house buying payments STOP. When you rent, rental payments never stop. Also the house buying payment is FIXED for the life of the loan. Rents, on the other hand, rise regularly. BONUS:
Just think about this: Most things at least double in cost every 33 years due to inflation. In 1979, some 33 years ago, the average house cost lest than $60,000, the average income was under $20,000, the average home cost under $300 to rent, and gas was under $.90 per gallon.
Now take what it costs to buy things today, then ADD 33 years. How much will it cost to buy a home then in 2045? How much will it cost for gas and food? Don't you think we'd be better off buying a home at today's LOW prices and paying it off over time rather than renting?
Imagine rent in 2045. It might be $2,600 for the same 3 bedroom home that now rents for $1,300. And yet, if you were wise and bought a home instead in 2012, your payment through all that time will stay steady at today's payment. By 2045 if you bought a home today, your home may be owned FREE and CLEAR and you'd have NO payments!
When you see things this way, you'll understand why I believe you're better off buying now rather than waiting. And you'll also get why you'll probably be kicking your self down the road for not taking action today.
Take action while mortgage interest rates and home prices are still LOW.
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Coleen and David Jurewicz a real estate broker team 00661096 and 00826558 have over 50 combined years in the real estate business. Like an experienced airline pilot they have strategies to land your real estate transaction if there's turbulence.