Now Is The Time To Buy A New Home!
Right now is a terrific time to buy a home. Whether you are a first-time homebuyer or looking to move-up to a larger home, it’s a GREAT time to be a buyer in Middle Tennessee. Here are the top 10 reasons why you need to buy in Middle Tennessee now!
Top 10 Reasons to Buy a New Home in Middle Tennessee
· Home ownership is the first step to building wealth
· Home ownership qualifies you for tax deductions
· Interest rates remain low
· It is a Buyer’s Market! Builders are offering a host of value-added incentives, but hurry they won’t last long
· Return on Investment – the rate of appreciation in Middle Tennessee is above the national average
· By owning your own home, you can live the American Dream
· Location…Location….Location - homes are available in a variety of price ranges throughout Middle Tennessee
· Housing Choice – home buyers have more choices than ever before –
from traditional single family homes to mixed use developments, today’s homes feature flexible designs, innovative technology & the latest products and finishes.
· Energy efficient construction techniques and products translate into savings
· Middle Tennessee remains a hot market by comparison to most of the similar markets throughout the country
Don’t Get Distracted
“There is Value in OUR MARKET TODAY!”
With all the negative news about real estate lately, it’s easy to get distracted. When searching for and buying a house, keep your eye on the prize—the financial benefits of your investment!
HOME VALUE APPRECIATION
WHAT DOES THAT MEAN TO ME?
Say you buy a $250,000 home with a 5% down payment equal to $12,500 and finance the rest. Assume that the market remains soft for the first year or so.
Now let’s assume that in the second year, the market begins to warm up a bit and home values rise by 5%, which is approximately the average annual appreciation rate in the United States since the 1970s, according to the federal government.
Now your house would be worth 5% more than you bought it for, $262,500. Since you financed $237,500, your initial cash investment of $12,500 has already doubled! You’ve got a net $25,000 in equity.
If it continues to appreciate by that historical average of 5%, it would be worth $275,625 at the end of year three, $289,406 at the end of year four, and $303,876 at the end of year five.
During that time – even without a big boom in property values – your $12,500 would have more than quintupled to $66,376 and you would control an appreciating asset worth nearly $304,000!
Now Is The Time To Buy A New Home!
The state of the real estate market today allows you, the buyer, to get exactly what you want, where you want, when you want. Need a house with an extra bedroom for a recent addition to the family? Want a bigger yard for the dogs? Want a kitchen with granite countertops and stainless steel appliances to make entertaining easy? You can have it! Want to live downtown, Midtown, near a lake, on a golf course, in the mountains, or anywhere else? You can! Maybe you need to move next month or maybe you need to sell your current home first. There’s something out there that’s exactly what you are looking for.
IN A SELLER’S MARKET
· Less supply (less houses for sale)
· Upgrade packages may not be as extensive
· Financing packages may not be as attractive
· Buyers must be more competitive in their offers
IN A BUYER’S MARKET
· More supply (more houses for sale)
· Better upgrade packages available
· Attractive financing packages available
· Builders/sellers more likely to entertain an offer
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