Buying a home is a great way to build long-term wealth

If you’ve been waiting for the right time to buy a home, you should know the facts about homeownership. Right now, interest rates are at historic lows, conventional financing is still available, and FHA-insured mortgage applications are on the rise. The more you know, the more you’ll realize it’s a decision you shouldn’t postpone any longer.

On average, the value of a home nearly doubles every 10 years:

That’s a return most investments can’t match. During the past three decades, home values have increased an average of 6.6% per year. And because most buyers invest only a small part of their home’s total value in a down payment, their return on that initial investment is much greater, thanks to the power of leverage.

The average homeowner today has 36 times the wealth of the average renter:

Homeownership is key to climbing up the economic ladder. When you own a home, you’re essentially paying yourself and building up equity. Not to mention the tax deductions only owners can claim, such as property taxes and mortgage interest.

The Boston housing forecast is better than reported:

You might wonder if buying a home is a smart financial decision these days, given some of the misinformation presented in the national media. However, the situation is better than what is being reported. It’s a buyers market. Inventory is up and competition is down. And the fact is, Boston home values have increased an average of 13.8% per year over the last 10 years.

To learn more about great opportunities in this housing market, call me today!