Should I buy a new home right now? The data says YES!

March 30, 2021

You may be wondering, is now the time for you to buy a new home?

The data says ‘yes’ to buying a new home!

Buying a new home is one of the biggest investments you will make. While this might scare you, it’s good to know, that a new home is a good investment. Not only do you get a place to call your own but buying a home is a smart investment.

Build wealth with a new home.

The National Association of Home Builders recently released an article about homeownership being the primary driver of household wealth. They said that homeowners had a median net worth of $255,000 – more than 40 times the median net worth of renters ($6,300). This reflects just how important the value of homeownership is.

Further more, homeownership has increased from a low of 63.7% in 2016 to 64.9% in 2019. More buyers are seeing the value of adding homeowner to their portfolio.

Build equity with a new home.

Home equity is the appraised value of your home, minus the outstanding mortgage. With the current low inventory market, home prices are rising daily. When you own a home, what does that mean for you? The value of your home rises with that, giving you more equity in your home.

Interest rates are low.

There’s no doubt that the interest rates will be rising, however they are still low. With the threat of them rising on the horizon, now is the time to make the move to buy! We created this graph to show just how a small increase in the interest rate can affect your monthly mortgage payment:

* SEE DISCLAIMER FOR FULL RATE & APR DETAILS

It’s not too late.

You may be thinking, well I’m too late to jump on the bandwagon. The reality is, all signs are pointing that the market will continue to grow. Idaho topped Atlas’ list for states with the most inbound moves, meaning more moving trucks were arriving in the state than leaving it. Zillow expects 2021 to be a stronger year than 2020, and in their latest report showed that Idaho’s home value has grown 149% since 2011.

Don’t wait to build your wealth and join a community of new homeowners.

Start here to see what you qualify for: TAKE THE QUIZ