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| Buying a Lexington home is a smart financial decision |
Are you considering buying a Lexington home this year? As
your Lexington real estate agent, I’m here to share that this is a smart move
for numerous reasons! Make 2017 the year that you buy your first home in the
Lexington real estate market and begin building wealth for your future.
To prove that homeownership in Lexington is a smart idea,
self-made millionaire David Bach recently explained that the best way
millennials can accrue wealth is to become homeowners. He stated that
purchasing a home is “an escalator to wealth.”
Why is this? Say you rent at $1,500 for 30 years. You’ll pay
$540,000 over time, enough to buy yourself a gorgeous home! In the end, you end
up with no equity. As a homeowner, you purchase a home and pay mortgage
payments. In the end, you’ll either own a home, a financial asset, or you’ll
sell the home and get money back. Hopefully, you’ll end up with
more than you paid!
As Realtor Magazine recently shared, more equity is likely
coming to owners. Home prices nationwide rose year-over-year by 7.1 percent from
November 2015 to November 2016! More price jumps are expected, experts say,
though at a more modest pace. They predict that prices will increase another
4.7 percent by November 2017.
This means that the sooner you buy a Lexington home, the
more you’ll likely save on the price. Mortgage rates are on the rise too, so
you could save on rates by purchasing sooner than later as well. Plus, with
equity on the rise, you might be able to sell your Lexington home for more than
you paid, even if you don’t plan on living in it forever.
If you have questions about the current Lexington real estate market, or questions about the home-buying process, contact me! I am
always here and ready to help answer your questions, and to help you find the
perfect home for your needs. As a Lexington real estate agent, I am only a call
or email away!
Don’t let 2017 be the year of real estate opportunity that
you let pass by. Contact me today!
Theresa D'Antuono
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