Is Renting Right for Me?

If you’re currently renting and have dreams of owning your own home, it may be a good time to think about your next move. With rent costs rising annually and many helpful down payment assistance programs available, homeownership may be closer than you realize. According to the 2018 Bank of America Homebuyer Insights Report, 74% of renters plan on buying within the next 5 years, and 38% are planning to buy within the next 2 years. When those same renters were asked why they disliked renting, 52% said rising rental costs were their top reason, and 42% of renters believe their rent will rise every year. The full results of the survey can be seen … [Read more...]

Affordable Rentals in Mesa

  Check out these affordable rentals in Mesa! There are listed with Realtors so you don't have to worry about scams. Let me know if you would like to view any of these homes. Don't see what you're looking for? You can customize the search! Ever wonder if buying is cheaper than renting? Sometimes it is! Check out this handy calculator for your answer … [Read more...]

5 Powerful Reasons to Own Instead of Rent

Owning a home has great financial benefits. In a recent research paper, Homeownership and the American Dream, Laurie S. Goodman and Christopher Mayer of the Urban Land Institute explained: “Homeownership appears to help borrowers accumulate housing and nonhousing wealth in a variety of ways, with tax advantages, greater financial flexibility due to secured borrowing, built-in ‘default’ savings with mortgage amortization and nominally fixed payments, and the potential to lower home maintenance costs through sweat equity.” Let’s breakdown 5 major financial benefits of homeownership: 1. Housing is typically the one leveraged investment … [Read more...]

Millennials Are Increasing the Demand for Condominiums

When deciding to buy a home, people are presented with many different options. The type of home you buy depends on your needs, budget, and in many cases, the desired maintenance level. For many millennials, their choice has been buying a condominium! According to CoreLogic, “Last year about 43% of all condo home-purchase mortgage applications were submitted by FTHBs… Similarly, the data show condos were more popular with young homebuyers and empty nesters. For instance, 21% of all condo home-purchase mortgage applications were submitted by buyers aged 18 to 30, compared with just 17% of all single-family home-purchase mortgage applications … [Read more...]

Young First-Time Buyers Are Saving for Their Dream Homes

Young buyers (Millennials & Gen Z) have waited longer than previous generations to enter the housing market for their first home. However, this hasn’t stopped them from dreaming about the home they will eventually buy. Many spend hours searching listings and building Pinterest boards of their favorite home features. According to a survey from Open Listings, 70% of single renters are more likely to spend their Sunday nights swiping through house listings than dating profiles. All that time window shopping has led 45% of millennials to expect the first home they buy to be their “dream home”! They are willing to wait longer, save more for a … [Read more...]

Renting or Owning, What Is Better for You?

In a real estate market where home prices are rising, many have begun to reexamine the idea of buying a home, choosing instead, to rent for a while. But often, there is a dilemma: should you keep paying rent, knowing that rent is rising too, or should you lock in your housing cost and buy a home? Let’s look at both scenarios and analyze the pros and cons of each: Renting With the housing market crash in 2008, many homeowners lost their homes and became renters. According to Iproperty Management, “the number of households renting their home … rose from 31.2% of households in 2006 to 36.6% in 2016”. Some choose to rent because it is more … [Read more...]

The Feeling You Get from Owning Your Home

We often talk about the financial reasons why buying a home makes sense. But, more often than not, the emotional reasons are the more powerful and compelling ones. No matter what shape or size your living space is, the concept and feeling of home can mean different things to different people. Whether it’s a certain scent or a favorite chair, that feeling of safety and security you gain from owning your own home is simultaneously one of the greatest and most difficult to describe. Frederick Peters, a contributor for Forbes, recently wrote about that feeling, and the pride that comes from owning your own home. “As homeowners discover, living … [Read more...]

How Homeownership Delivers Unsurpassed Family Wealth

There are many financial benefits to homeownership, but probably none more important than its ability to create family wealth. How Housing Matters is a joint project of the Urban Land Institute and the MacArthur Foundation. It is an online resource for research and information on how homeownership contributes to individual and community success. Their article, The First Rung on the Ladder to Economic Opportunity Is Housing, explains the importance of homeownership to a family’s financial health. In that article, they simply stated: “The ladder to economic success can stretch only so high without the asset-building power of … [Read more...]

4 Reasons to Buy A Home This Summer

Here are four reasons to consider buying today instead of waiting. 1. Prices Will Continue to Rise CoreLogic’s latest U.S. Home Price Insights reports that home prices have appreciated by 3.7% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 4.8% over the next year. Home values will continue to appreciate. Waiting may no longer makes sense. 2. Mortgage Interest Rates Are Projected to Increase Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year fixed rate mortgage have started to level off around 4.3%. Most experts predict that rates will rise over the next 12 … [Read more...]

The Top Reasons to Own Your Home [INFOGRAPHIC]

Some Highlights: June is National Homeownership Month! Now is a great time to reflect on the many benefits of homeownership that go way beyond the financial. What reasons do you have to own your own home? Powered by WPeMatico … [Read more...]