To Buy or Not To Buy, That is the Question

Home Ownership. Should we? Should we never? Or should we not yet?

The answer is a confident “Yes we should.” and with a clause of “As soon as possible.”

My answer is yes, because I’ve done it many times, I’ve helped others do it, and we’ve always benefited. Some were glorious goldmine investments; others were tougher situations that simply needed a bit more love and attention.

Bottom line: All were good investments. All. Of. Them.

But what about… the housing market? … the interest rates? … the bubble bursting? ...

Why buy? Here are four reasons:

MAKE MONEY

House prices have always gone up. Always. Yes, they sometimes stall or slightly dip, but equity accumulates with each passing payment and with each passing year. We’re investing in ourselves. In time, real estate can help us make more money than most other investments because over time it is consistent and reliable. Here’s proof of value – ask your parents what they paid for their home.

Tip: whether you have children or not, buy in an area with good public schools. If you stay, your equity will continue to increase and when you sell there will always be buyers who want this benefit.

SAVE MONEY

With equity, we make money. With write-offs, we save money. Either way, real estate is a good financial investment. There are wonderful tax benefits to owning a home or investing in property. Since many more people are working from home these days, the value in this space has increased dramatically.

Tip: Ask your tax person, financial planners, and real estate experts for their insight into saving money with home ownership and investment properties. Rules change and it is wise to keep up with experts in this area.

OPTIONS

Live in it, rent it, sell it. Do all three over time. All have benefits. As long as we take care of it, we have options. The better we care for it, the more value it has over time and the satisfaction of living in our home increases. Whether interest rates are going up or down, here’s our plan – purchase the home. If interest rates go up, we’re locked into the lower rate. If they go down, we refinance.

Tip: Here are three areas that if maintained or upgraded, will add exponential value to your home (1) kitchen, (2) primary bedroom & bath, (3) curb appeal & cleanliness.

DREAMS

I call it home-sweet-home. It’s ours. We own it. And with this ownership good things develop within us, including personal responsibility, character development, gratitude, and we may even improve our fix-it and creative skills! We can beautify it to our taste and remodel if we wish. It feels good.

Tip: Love your home. If you’re hesitant in this area, do something about it. Design and decorate your home to make it a place you want to be - a place you love. Start with a single room and expand from there.

Yours,

Blaise

Blaise Patrick Tracy | Mortgage Loan Officer | NMLS #2299123

Mortgage Loan Officer Blaise Tracy in Denver, CO | U.S. Bank (usbank.com)

Open for mortgage loans in all 50 United States.

Purchase. Refinance. Cashout. Home Equity. Lot Purchase. Construction. VA and FHA.