How can your home be a vehicle to maximize your money into retirement? That’s what we’re discussing today.
Is it better to buy now or wait in case the market dips? The answer to this question depends on your circumstances, but you can benefit greatly from buying now.
Over the past 60 years, the average appreciation rate per year in our Southern California market has been 6%. That’s a pretty good rate—certainly better than a lot of other investment opportunities out there. Also, interest rates are the lowest they’ve been in a year, and they’re expected to remain flat throughout 2019.
Ultimately, if you buy now and hold on to your property, you’re going to make money off of it. Homeownership is essentially a forced savings plan in that you build equity every month you make a mortgage payment.
The bottom line is, if you plan on staying in the home long-term, it absolutely makes sense to buy now before interest rates increase. As an added bonus, you can also take advantage of tax write-offs.
If you’d like to talk more about whether now is the right time for you to buy or you have any other real estate questions, don’t hesitate to reach out to me. I’d love to help you.