Monday, August 29 2016
There are many benefits to homeownership. One of the top ones is being able to protect yourself from rising rents and lock in your housing cost for the life of your mortgage.
Don’t Become Trapped
Jonathan Smoke, Chief Economist at realtor.com, reported on what he calls a “Rental Affordability Crisis.” He warns that,
In the Joint Center for Housing Studies at Harvard University's 2015 Report on Rental Housing, they reported that 49% of rental households are cost-burdened, meaning they spend more than 30% of their income on housing. These households struggle to save for a rainy day and pay other bills, such as food and healthcare.
It’s Cheaper to Buy Than Rent
In Smoke’s article, he went on to say,
Know Your Options
Perhaps you have already saved enough to buy your first home. HousingWire reported that analysts at Nomura believe:
Many first-time homebuyers who believe that they need a large down payment may be holding themselves back from their dream home. As we have reported before, in many areas of the country, a first-time home buyer can save for a 3% down payment in less than two years. You may have already saved enough!
Don’t get caught in the trap so many renters are currently in. If you are ready and willing to buy a home, find out if you are able. Let’s get together to determine if you could qualify for a mortgage now!
Team Cook serves the entire Northern Colorado real estate market which include the areas of Loveland, Berthoud, Fort Collins, Windsor, Longmont, Johnstown, Milliken, Severance, Laporte, Timnath, Wellington, Estes Park, Evans, Greeley and other surrounding areas! We also serve the Boulder County, Larimer County, and Weld County areas. If you are considering buying a home, selling a home or both, we know these areas inside and out! Give us a call at 970-532-2695 or email us at firstname.lastname@example.org – it would be our pleasure to serve you!