10 reasons to buy a house when you’re young!

  1. Reason number one for buying a house is for investment. Houses are great investment you’re going to make more profit off of the house and you are going to make profit from your stock portfolio so investing in a home will bring you the most bang for your buck.

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  1. That appreciation you will get from owning a house will increase your net worth very quickly. A lot of times you can make $10,000-$50,000 just in your first year alone in equity which would put you ahead of the game and would allow you to have more money down for your next house if you were upgrading to a bigger home.
  1. Your return on investment is always going to be higher when owning a home. You can spend $1400 a month on rent for example but you can be spending $1000 a month on the mortgage and part of your mortgage goes towards paying your house off when rent only goes towards rent and you never see that money again.

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  1. Owning a home is like having a forced savings account. Each month to pay towards the principle of your mortgage you’re putting that money away in the bank that’s locked up that you should not be able to use and when you sell that home you can use it to purchase your new home or do something else with it but ultimately it is a type of savings account that forces you to save.

 

  1. The longer that you have the house the value grows in the longer that you pay the mortgage the principal grows in value so that helps you to build equity in the home and when you sell it or leverage it to get another loan that puts you way ahead of any renter.

 

  1. Sometimes you can take the equity out of your house and use it to buy your new home and then start using your old house as a rental which can bring you anywhere from $100-$750 a month and my estimations of profit from rental income.

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  1. Running home can also let you use your creativity in order to make your home your personal space. It’s your place you can do what you want with it and let your creativity only be held back by you and no one else.

 

  1. Owning a home teach you some responsibility but also gives you lots of freedom because you can do what you want to do when you want to do and how you want to do it and not living at your parents under their authority makes a huge difference in your life and allow you to grow and become a real adult!

 

  1. The process of buying a home teachers use the concept of finance. You don’t know much about it when you leave school but you learn as an adult how financing works what kind of terms come with it and how you will become responsible with your finances in order to pay your bills and continue to gain equity.

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  1. Another great reason for buying a house when you’re young is because it allows you to have free time to do the things that you want to do and how was you making money all while you’re doing it by way of the gain of equity in your home.

 MATTHEW STEBBINS

MATTHEW STEBBINS

Mobile: 321-482-3585

http://www.homesinmerrittislandflorida.com/

5 Real Estate predictions for 2017!

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2017 has begun and some are wondering what is in store for the housing market this year. I have done a bit of research and found what experts are saying. Experts are making some interesting predictions!

Here are some of the key predictions for 2017:

  1. Millennials and boomers are expected to move markets

In 2017, the U.S. real estate market will be in the middle of two huge demographic waves that will continue to go for at least the next 10 years.

Millennials and baby boomers, which are the two largest American generations in history, are both approaching life stages that typically motivate people to buy a home: get married, start having children,  begin their retirement, and become empty nesters.

It’s predicted that millennials will make up 33% of buyers in 2017, but may be ower due to increasing interest rates.

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  1. Millennials will look to the Midwest

While the financial picture may look cruddy for our youngest home buyers, the Midwest, with its affordable cities look good. It is believed Midwestern cities will continue to beat the national average with the estimated proportion of millennial home buyers in 2017. Leading the pack are Madison, WI; Columbus, OH; Omaha, NE; Des Moines, IA; and Minneapolis.

“It’s easier for millennials to buy in more affordable markets like in the Midwest,” a source says. “We’re also seeing large numbers of millennials buying in Midwestern markets with or near big universities. So part of this is an effect of recent graduates with good jobs being able to settle down in these more affordable markets.”

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  1. Price appreciation will slow down

It is estimated that nationally, home prices are forecasted to slow to 3.9% growth year over year, from an estimated 4.9% in 2016.

“Prices are still likely to go up at an above-average pace as long as supply remains so tight,” a source says. “The inventory problem is not going away.”

Of the top 100 largest metros in the country, 26 markets are expected to see price increases of 1 percentage point or more, with Greensboro, NC; Akron, OH; and Baltimore experiencing the largest gains.

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  1. Fewer homes, fast-moving markets

The inventory of homes available for sale is currently down in the top 100 U.S. metropolitan markets—and the conditions limiting home supply are not expected to change in 2017. The median time it takes a home to sell, is 68 days in the top 100 metros, which is 14%, or 11 days, faster than the national average.

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  1. The West will lead the way

It’s estimatedthat the metropolitan markets in the West will see a price increase of 5.8% and sales increase of 4.7%, much higher than the U.S. overall. These markets also expected to dominate the ranking of the realtor.com 2017 top housing markets (more on that tomorrow), making up five of the top 10 markets on the list: Los Angeles, Sacramento, and Riverside in CaliforniaTucson, AZ; and Portland, OR.

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*Info and statistics were gathered from realtor.com

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MATTHEW STEBBINS

MATTHEW STEBBINS

Mobile: 321-482-3585

http://www.homesinmerrittislandflorida.com/