6 Reasons to buy in 2021
2020 was a year of unknowns for many Americans. 2021 has some answers and hopes with some unknowns. One thing that stayed strong and still continues to show great gains is real estate. For the past 8 years, there has been a steady incline in home prices. The Reno/Sparks average home price ended in Dec 2020 at $427,000. New home sales have people waiting 8+ months for building times and with new projects breaking ground and existing homes coming on the market a slowdown is not showing its face currently with no signs in the near future.
Now with all that said, just because it's a good time to buy doesn't mean it's the right time for you. You should always consult professionals and determine if right now is the right time for you. Let's go through the top six reasons you should purchase in 2021
Owning your own home is great! Fix it up, get a dog, paint the walls, plant a tree; make it your own! Many times renters cannot customize their homes or even have pets. One of the top reasons millennials purchased in 2020 was
Get excellent tax benefits and deduct the interest paid on your mortgage and other home-related expenses
Home values usually go up over time, which becomes equity when you sell
Part of your monthly payment goes towards the principal balance on your loan, which builds equity
Homeowners stay in their homes four times longer than renters, helping them build ties in their community.
Homeowners' students earn higher test scores and graduate at a higher percentage than those who rent.