Live the American Dream

live the american dreamBecause of historically low mortgage rates, consumers today are realizing their vision of living the American Dream by owning a home. Today’s homebuyers can get lower mortgage rates than their parents or even grandparents did on their first home.

FNMA recently conducted a housing survey about consumer’s thoughts on today’s market. The results were that almost 2/3 of respondents would rather buy a home than pay rent and that they believe now is a good time to buy. Half of those who responded believe that rent prices and home prices will rise.

Here are my top ten reasons you should make your dream a reality:

  1. In most cases, it’s cheaper than renting
  2. Avoid future rent increases
  3. Build equity with each monthly payment through amortization
  4. Think of buying a home as a forced savings account
  5. Over the years, appreciation will increase your equity and your overall investment
  6. Tax deductions include mortgage interest and property tax
  7. Home equity interest deduction
  8. A place you can call your own
  9. A place to share with friends and family
  10. Capital gains exclusion on profit

A homebuyer needs to show proof to the sellers when they are ready to submit a contact and the confidence that they can afford the home. To do this a homebuyer needs a steady reliable income, good payment history on their bills, a balance of money they saved for their down payment and show they are prepared to make a monthly mortgage payment. It also helps to get pre-approved by a Lender or Bank before submitting an offer.

When you are ready to start looking for your American Dream home, I can send you a list of Fairfax homes for sale or set you up with a Listingbook account which allows you ‘Insider Access’ to the MLS. You can save search and modify your criteria at any time and go back as often as you like.

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