With increasing interest rates and inflation catching up with the real estate industry, rents are also on the rise, making a lot of folks dream of a fixed-rate mortgage. Want to see the trends in your city? Use this tool from Zumper.
From building equity to built-in savings, there are real estate principles and benefits to help your property pay you back, even in a down market.
Dual Purpose Investment
A home is both a current need and an investment in your future. You can find something that fits your family right now, but how will it suit you ten years down the road?
Valuable Savings
Mortgage payments can deliver equity, improve your credit score, and also serve as a savings account you can leverage now or tap later.
Tax Considerations
Like other life changes, homeownership comes with tax deductions, credits, and other perks. Ask your accountant to get you started with a mortgage payment deduction.
Protection from Inflation
Rents rise with inflation, and sometimes to pay for building upgrades, but payments on a 30-year fixed mortgage remain the same for, well, 30 years!
Want to learn more about the benefits of home ownership?
Yesterday was National Coffee Day, and tomorrow is the international version, which means it’s time to celebrate our favorite beverage-slash-life-giving-elixir. And check out this list of freebies and deals from your favorite coffee providers.
By the way, it’s probably not the reason why any of us started drinking coffee, but anyone who loves a cup or two or three in the morning — and sometimes at one in the morning — will be glad to hear that it’s helping prolong their life. CNN has the details.
If you’re thinking of listing your home for a fall sale, it’s time to make it look the part. Here’s a punch list of autumnal home improvement projects.
There’s no shortage of projects to keep you busy around the house. Restore your carpet to its original beauty. Clean your fireplace to get ready for cold winter months. And embrace your green thumb by trimming back foliage and protecting your perennials from pests.
If you prefer to get a little dirty – like me – you can get up on a ladder to unclog your rain gutters, replace missing shingles, or seal up pesky leaks in your attic. You can also invest in energy saving upgrades like a new furnace or double-paned windows to help the house maintain temperature.
Did you know? According to the Environmental Protection Agency (EPA), an average home produces about twice as much greenhouse gas pollution as the average car.
Meanwhile, a recent study showed that a $1 reduction in annual energy bills resulted in more than a $10 increase in home resale value. Indeed, appraisers account for efficiency improvements because they contribute to the livability and economic stability of the home.
Additionally, the Federal Housing Administration (FHA) has ruled that the cost of energy efficiency measures can be added to a mortgage. And homebuilders find that homes with efficiency upgrades sell faster and at higher prices than similar homes nearby. All the more reason to invest in an upgrade!
