Reasons To Buy Tooele UT Properties In 2015
Benefits of Buying a Tooele UT Home This Year
Deciding when to buy a property is usually a tough task. You may be debating whether prices will improve or worsen and whether it is actually a good time to act. Unfortunately, nobody can really tell the future. However, you can look at different factors to help you reach an informed decision. Below are a few reasons to buy Tooele UT properties in 2015.
Real Estate Values Are Rising
In case you were not sure, the market bottom has already passed in most areas. In fact, home prices are back on the rise in many areas. Why is this important information for home buyers? There is the potential to earn equity in a shorter time frame. Purchasing now means taking advantage of prices while they are still fairly low with the likelihood for further appreciation.
Renting Is More Costly Than Owning
Buying has many advantages over renting. First is the tax benefit. This may make a big savings depending on your tax level and mortgage amount. Additionally, you have the ability to accumulate equity either immediately or over the years, so it is truly an investment instead of simply an expense. When you analyze the monthly cost and the other financial figures, home ownership is often the clear choice.
Interest Rates Remain Low
Interest rates are exceptionally low. Qualified buyers are securing fixed rates below 4 percent. Loan rates have a significant affect on your loan payments, so it must be important. By obtaining a lower rate, home owners spend less on a home or can purchase a more expensive house. Rates continually fluctuate, so you should act sooner rather than later to take advantage of this.
Recent Changes to Loan Terms
FHA buyers are getting some extra incentive from new fee schedules. The monthly mortgage insurance rate for FHA loans is being dropped by 0.5%. On a $100,000 mortgage, the mortgage insurance drops from $112.50/mo to $41.67/mo. On a larger $400,000 mortgage, it goes from $450 to $$83.33 each month,..a $167 reduction.
Help With Buying a Property for the Tooele UT Area
Every region is different. Even adjoining cities can have completely different home values. Therefore, it is critical that you work with a knowledgeable and local agent to help you. He/she may also share other reasons to buy Tooele UT properties in 2015. Contact Chris Sloan at Group1 Real Estate (435-840-5031) firstname.lastname@example.org) for specific details on the local home prices and help with your property search.
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