According to the National Association of Realtors, Americans believe that real estate is the best long-term investment once again this year! There are many reasons real estate is a worthwhile investment—here are a few of our top picks:
Consumer Confidence Continues to Rise: Due to an increase in consumer optimism, overall confidence in the Real Estate and Housing Markets continues to increase year over year. In fact, according to a recent survey by Gallup 31% of adults polled considered real estate to be the best long-term investment, while 25% considered stocks and mutual funds to be the best long-term investment, and 19% considered gold to be the best long-term investment.
Mortgage Rates are at a Historic Low: Due to increased optimism in the Real Estate Market, mortgage rates are at a historic low—which makes now the time to buy a new home! Experts are predicting mortgage rates to rise once more nearing the end of 2015, so now truly is the best time to buy a new home!
Home Values are Rising: With the continued growth in the Real Estate and Housing Markets, home values have appreciated, as home prices have continued to rise over the past 30 years. This is great news—the sooner you buy a new home, the more you’ll have to gain!
Average Rents are at an All-Time High: Currently, rent is also at a historic high across the nation. While many renters spend as much as 30% if their income on rent, homeowners can expect to spend a mere 15% on average on home mortgage payments.
Homeowner Tax Breaks: There are a number of tax breaks for homeowners, allowing you to deduct the interest you’ve paid on your mortgage, property taxes, and more!