Investing in real estate is your next best move. Here’s why.Selling your Massachusetts home? Get a home value reportBuying a Massachusetts home? Click here for full MLS access
Investing in real estate may be your next best move.
Roughly 68% of all Americans are homeowners, so if you’re a part of the 32% who keep helping their landlord become wealthy with monthly rent payments, the question is this: What would it take for you to go from a renter to a homeowner, and why is this important?
There are loan programs across the country designed specifically for wannabe homeowners who don’t have a lot of money saved. FHA loan programs, for instance, require only a 3.5% down payment to initiate your home purchase. There’s also a program called Mass Housing which helps Massachusetts residents get better terms and conditions and lower interest rates—even if you have credit issues.
If you upgrade your property, those benefits accrue to you over time.
There are also great tax advantages to becoming a homeowner that you don’t get as a renter. Additionally, you can take advantage of appreciation rates. Nationally, properties have been appreciating anywhere from 4% to 7% over the past seven or eight years. Wouldn’t it be better for you to enjoy these benefits?
Furthermore, if you upgrade your property, those benefits accrue to you over time. If you upgrade your rental, those benefits accrue to your landlord.
If you’d like to know more about the benefits of homeownership or how you can transition from renter to homeowner, don’t hesitate to give my team and me a call or send us an email. We’d love to help you.