Thinking About Buying a New Home? Must Read Tips
The housing market has never been more accessible. Lone interest rates are nearing historic lows, down below four percent. Lifetime renters are now presented with many new options. These tips will help make sense of the today’s real estate market. If you are weighing the pros and cons of renting versus buying, looking to add value to your investment, or wondering about the local Murrieta real estate market, we have some helpful tips for you.
To Rent or to Buy, That is the Question
The average age of the first time home-buyer in 2013 was 31 years old. Asking prices went down 0.7% over the last year, while rents went up by 5%. Renters can face unexpected eviction if their landlord decides to sell their home, rent to someone else, or otherwise end the lease. Homeowners do not have to worry about these issues. While renters can make plenty of green improvements to their home, homeowners can make far bigger changes, such as adding solar panels or installing an energy-efficient roof. With the current trend in pricing, it is a buyers market. If you’re considering taking the plunge it just may be the time. Jack Otter, author of “Worth It… Not Worth It?” suggests making a 20% down payment and taking out a 30-year fixed mortgage to take advantage of today’s low rates.
Your Investment Will Grow
Million dollar homes are selling at double their historical average. Purchasing at today’s low rates will lead to major dividends in the future. Home owners have many options to grow their investment. Mid-range vinyl siding replacement projects have returned 81.5% on the initial investment. A replacement steel door averages a 98% return on investment. Adding a pool, improving curb appeal, adding or adding an addition can also help your investment grow exponentially.
Home For Sale in Murrieta
The Murrieta CA real estate market is buzzing. The area has a particularly high concentration of horse properties available. Owning a horse property can provide dividends far beyond the monetary. It can be a truly rewarding experience for the entire family. Children absolutely love getting to grow up around the horses and learn valuable lessons from caring for them. There are many a home for sale in Murrieta that offer this unique opportunity.
Real estate trends suggest that there has never been a better time to purchase a new home. If you are a potential buyer, or have a home for sale in Murrieta, there are many resources available to help you along the process.