Here are 5 reasons that 2020 should be the year you finally become a homeowner!
1. Better Interest Rates
Mortgage rates are currently staying at the lowest they have been in a decade. This means you can save tens of thousands over the course of a 30 year loan!
2. Lower Payment
A better interest rate means also means a lower monthly payment, saving you hundreds.
The more payments you make, the more money you put back into your home. Think of it like a forced savings account that you can draw on after a few years.
Homes go up in value at a rate of roughly 3.5% a year. That’s around $100,000 in added value after just 5 years! This is what makes homes such a great investment.
5. Tax Savings
When you own your own home you are able to write off the interest and mortgage insurance that you pay, which is another great way to save some bucks.