A big part of our economy, which can't be denied, is our housing market. Housing is a necessity for everyone. If you watch the show Naked and Afraid, you'll know that one of the first things the survivalist try to accomplish is to build a shelter, then find water. This shows exactly how important shelter is.
Over 100 years ago, the United States Congress created and passed a tax incentive for homeownership. They knew at the time that being a nation of homeowners would create unique situations for people and their families through wealth, stability, and economic growth. Here is how:
1. 2.5 million private-sector jobs are created annually through home sales. Buying houses creates a positive shock to the economy with more sustainable jobs. It was stated by Jared Martin, President-elect for the California Association of Realtors, that for every 2 homes sold, one job will be created.
2. Predictability! On average rental rates go up every 2-3 years, which can catch some people off guard and may not be able to afford that living situation any longer. When purchasing home, using a trusted lender, you see an average of 15 or 30 years of a fixed price. As a homeowner, you'll know what you'll be paying for many years to come.
3. It can't be denied that owning a home creates a sense of pride and security. It also strengthens the community, boost participation in civil pride and participation, and can boost a child's performance in school. Homeownership also creates stability in a neighborhood. Homeowners tend to move less often versus renters, which creates a better sense of community where you live.
4. You want to build long-term wealth? Homeownership is a great way to do that. According to the Federal Reserve, in 2013 the median net worth of homeowner families was $195,400, while the median net worth of a renter was $5,400
Too many benefits not to buy a home. Start the process and call a FULL-TIME REALTOR today!
Some people think they may not be able to afford a home, but on the contrary, with programs and great interest rates, you maybe able to qualify. It doesn't hurt to ask!
Email me any questions you may have, I'm here to help!