We recently had our pie giveaway and it’s always one of our favorite events of the year. We give away free Thanksgiving pies, have some snacks and libations, and get to talk to a lot of our “VICs” (Very Important Clients). After getting to talk to so many of you about your lives and about real estate, we wanted to answer a few of the most common questions that we heard from you today.
“Having rented for decades, what are the benefits of homeownership other than building equity? If the current market is a seller’s market, is it a good time to buy or should I wait?”
First and foremost, you’re building equity for yourself as well as getting tax benefits from mortgage interest and property taxes. If you’re renting, you’re giving those benefits to your landlord and not reaping any of them yourself. Stop making your landlord rich and get into a property that you’ll live in and build wealth from through the years.
As for the second part of the question, our market is currently leveling out right now. This is good news for buyers because there is more to choose from. However, mortgage rates are on the rise, so the window of opportunity is closing for buyers to jump off the fence.
If you have any other questions about real estate or if you’re interested in buying or selling a home in the near future, don’t hesitate to give me a call or send me an email. I look forward to hearing from you.