What were some of the biggest takeaways from our recent Happy Hour Home-Buying Seminar? Well, for starters, you can buy a home with as little as $1,000 down. Second, sellers pay a buyer’s agent’s commission; as a homebuyer in today’s market, you don’t have to worry about compensating your professional representative in the real estate transaction.
“Remember: On average, the market increases roughly 4% each year.”
Here’s the big one, though: Interest rates for 30-year fixed mortgages are currently hovering around 2.7%. For renters, on the other hand, the comparable interest rate equates to 8%. This means you’ll be saving a ton of money by pursuing homeownership. Let’s take the homes that are actually available for sale right now and listed on this blog post as examples:
If you were to purchase the first property with 5% down on a conventional loan at the current interest rate, then you’d be saving $500 a month when owning it as compared to renting it; likewise, owning the second property instead of renting it would save you $450 a month. Not only are you saving big time, but you’re also building wealth as you pay down your mortgage and accrue equity. Remember: On average, the market increases roughly 4% each year. Over five years, you’ll likely generate $60,000 in equity just from paying down your mortgage; add in five years’ worth of appreciation at 4%, and you’ll find that you’ve been able to generate $90,000 in equity. What kind of stock enables you to do that? It’s a phenomenal time to invest in real estate.
Again, these were just some of the highlights of our most recent virtual home-buying seminar. If you’re bummed you missed out on that detailed conversation with would-be buyers like yourself, don’t fret; our Happy Hour Home-Buying Seminar will now be taking place on a monthly basis. If you or someone you know is interested in getting all their facts straight on the home-buying process, don’t hesitate to reach out to us. Pass these videos along to your friends and families; we love the referrals and look forward to new opportunities to help people like you achieve their real estate dreams!
Our next upcoming seminar is: How to sell for Top Dollar virtual Happy Hour! This will be Thursday Feb 4th at 7pm! Zoom link will be emailed out very soon.
