If you are still leasing a home or apartment, now would be the time to take the leap and venture into home ownership. There are many reasons why it makes sense now more than over to own your own home.
1. Mortgage rates are so low! It’s incredible, just ask your parents what their interest rate was when they bought their first home. You’ll be amazed at the difference. You can get a 30 year fixed rate loan at about 5%. Of course many things will be taken into consideration when the bank decides what rate to give you, but low rates are out there.
2. Real estate is a fantastic
investment. Plan to be in it for the long haul unless you are a real estate investor. It is great to have a diversified portfolio and home prices will go back up, they are already showing signs in that direction.