The best way to “play it safe” is to actually buy a home. Here’s why: studies show that owning a home is the best way to build household wealth. The sooner a person owns a home, the faster they begin to build up equity and wealth.
When you buy a CraftMaster home, you are also purchasing price stability, knowing that you will pay the same monthly payment for the life of your 30-year, fixed-rate mortgage.
For a limited time, CraftMaster Homes is paying $5,000 in closing costs for you! And, if you are an active duty personnel or a Vet, you still may be eligible for an $ 8,000 Tax Credit.
Did you know that by buying today using the VA 30 yr fixed rate mortgage that in 5 years you will have accumulated over $ 34,000 in equity and tax benefits? (Please ask to see rent vs. own comparison chart)
Now consider the current rental market. While home prices at lows not seen in years, rents continue to rise. Where is the economic security in not knowing how much your rent will increase in the next 5 years? You don’t receive any tax benefits from paying rent, nor do you accumulate any price appreciation, as you would if you owned a home of your own.
All of the economic fundamentals show that this is a good time to buy a home. And continuing strength in rental demand signals that there is upward pressure on rental apartments. The real risk isn’t in buying a home, it’s continuing to rent.
Written by Jamie Lee Chafin - Neighborhood Lender of the Year for Village Bank Mortgage Corp.
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