Home buying season is upon us! With more and more open house signs appearing on every corner, home buyers are hitting the pavement during these warmer temperatures to find their dream home. If you’ve considered buying a home this year, spring may be the perfect time for you and your family to take this big step. Here’s four reasons Spring 2017 is a great time to buy a home.
- Start building your own equity. When you pay rent for a home, often times you’re helping your landlord pay their mortgage and build equity. Why not put your hard earned money toward paying your own mortgage? An added bonus of paying your own mortgage is, with each payment you make, you build your own equity which you can use later in life.
- Home prices and rental rates are increasing. CoreLogic reported home prices increased by 7% this past February, with prices projected to continue to increase into the future. Rents have also increased in many local markets, making NOW a great time to stop paying rent and buy a home before prices rise even further.
- Use your tax refund. Your tax refund is a great source for a down payment on a new home. Many people don’t use their refund to its fullest potential. Make an investment in your future and in your family by putting this money toward your new home’s down payment.
- Ideal moving weather. Spring is the perfect time weather-wise to make a big move. This perfect moving weather can reduce some of the stress during this process. Don’t wait until summer, when temperatures are scorching hot, to move into a new home!
If you’re ready to make the first step towards home buying, contact a Summit Funding loan officer to start the process! Find your nearest loan officer HERE.