Truckee Real Estate
Truckee Real Estate & Five Compelling Reasons to Get Your Sierra Lifestyle Now!Bonnie Jessee, ABR,
530 412 3984
1. For the long term ~ It Will Beat LeasingIn recent years, the cost of buying a home in most markets has increased while the cost of renting remains flat. But it’s never a good idea to base long-term investment decisions on short-term conditions.When you buy a home with a fixed-rate mortgage, you can lock in a predictable monthly payment for 15 or 30 years. That means the largest part of your housing costs, principal and interest, are fixed. For some people, that stability, along with the sense of community that comes from being a second homeowner, is enough to tip the scales toward home ownership. You also have the ability to visit your Sierra Lifestyle home as you and your family wish. There is also the possibility of placing your property in a respected vacation rental arrangement program and let other guests pay the mortgage for you. Many of my buyers are ‘investing’ in the now for the family time and the future for their children and grandchildren.2. Home Ownership Historically Builds EquitySome people just don’t have the control to set aside money each month to save and invest. In this case, a home is more than a haven; it acts as sort of an routine savings account. Second,
U.S. home prices have always appreciated over the long term. Average appreciation on a home is, 5-6 percent annually, according to the National Association of Home Builders. Over time, history has shown that owning a home is a solid financial investment despite periodic market downturns. 3. Market Timing is Rarely PerfectNo one wants to purchase a home only to see its value decline. However, should you wait to buy a home until prices bottom out? A quick web search will yield a number of articles and opinions for and against timing the real estate market, but beware of those in favor of market timing who also want to sell you a how to book or system. Keep the Historical factors in mind when considering that lifestyle purchase.4. The “Special Considerations” Stand is OpenHome buyers can always ask for allowances, and in today’s market they have increased leverage. Agents who understand the nature of seller concessions can often help buyers get a better deal above and beyond reductions in sale price. But in today’s market where homes sell slowly and lots of inventory is available, the advantage shifts to the buyer side. In some areas of the country, sellers are not only paying closing and prepaid costs, but also some creative additions such as luxury cars, boats and furnishings. Sellers may be willing to make concessions other than dropping the home price, as there is often a tax advantage involved. With some assistance from their real estate and mortgage professionals, buyers and sellers can often put together allowances that benefit both parties and get the home sold quickly.5. Mortgage Rates Are Great – At The MomentInterest rates are currently at historic lows. No one really knows when that might change. Do consider ~ if you are contemplating making a purchase and interest rates rise just.5%, you may be priced out of the purchase.
When you’re looking for a good deal, don’t lose sight of the original goal of a family lifestyle. If you try to time the market to save a few thousand on the price of a home, you could end up with a higher monthly payment and total overall cost of home ownership. At the end of the day, your personal and family situation will determine when it’s the right time to buy a home professional can help you research and understand your local market and the types of homes available.
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