Moving Season: 13 Good Reasons to Buy a Home in 2013
May 03, 2013
You know what’s scary? Buying a home. It’s the largest purchase you’ll ever make, and that can be downright intimidating. But it’s not just scary; buying a home is also rewarding, exhilarating and extremely worthwhile. As a homeowner, you’ll have freedom, stability and so much more. Lucky for you, the market conditions make right now the perfect time to buy a home. Here are 13 reasons why you should take the plunge into homeownership in 2013.
<p><b>Mortgage rates are low.</b> Low rates are like rainbows; they’re pretty marvelous, but when they’re gone, they’re gone. Just a few short years ago, 30-year fixed rates were above 6.00%. If you don’t speak <a href="http://www.quickenloans.com/" title="Quicken Loans">mortgage</a>, this means that by buying now, you’ll likely save thousands of dollars in interest, because rates can have a huge impact on your mortgage payment. Don’t wait for low rates to go the way of the dinosaur; when they’re gone, they probably won’t be coming back for a long, long time (if ever).</p><p><b>Protection against inflation. </b>Landlords have a tendency to increase rent every year or two to accommodate for inflation. This won’t happen if you own your home. Having a fixed-rate mortgage means that you’ll make the same payment for the life of your loan, so you won’t ever pay more unless you want to. And that’s a pretty good feeling.</p><p><b>Home prices won’t be this low forever. </b>Prices have been sitting pretty low for a while now, but this isn’t going to last: <a href="http://abcnews.go.com/blogs/business/2013/04/home-prices-gain-for-13th-straight-month/" title="Home Prices are on the Rise">home prices are officially on the rise.</a> 2013 could be your final chance to snag a cut-rate price before it becomes ancient history.</p><p><b>Save on next year’s taxes. </b>As a homeowner, you’ll be able to deduct everything from real estate taxes, to private mortgage insurance, to loan points paid on a purchase. In other words, homeownership and tax savings go together like pumpkin pie and Cool Whip. Check out <a href="http://www.quickenloans.com/blog/homeowner-tax-deductions-and-credits">this Zing blog post</a> for more on the tax benefits of homeownership.</p><p><b>A sense of stability. </b>Owning your home feels a lot more permanent than renting. Your kids won’t have to worry about changing schools, making new friends, or having to start anew in a strange city every few years. If you have <a href="http://blog.gopenske.com/rental/tips-for-moving-with-kids/" title="Moving with Kids">kids, buying a home </a>is one of the best decisions you can make for their mental well-being.</p><p><b>Build equity. </b>You should think of your mortgage like a “forced savings” program. Yes, you’re writing your mortgage company a check each month, but that money, save the interest you’re paying, is still yours in the form of equity. In essence, the difference between renting and owning a home is that homeownership lets you build up your own monetary value, instead of your landlord’s.</p><p><b>Host a party</b><b> at your place. </b>Trying to entertain in a cramped apartment can be a bit of a drag. There’s not a lot of space, and there are neighbors all around you who get annoyed by the slightest noises. As a homeowner, you’ll have more space, more privacy, and a lot more elbow room between you and the guy next door.</p><p><b>Gain a sense of pride. </b>You can’t help but feel a real sense of accomplishment when you’re handed the keys to your very first home. Your house is the physical manifestation of your years of hard work and financial responsibility. And nothing says “success story” like owning your very own piece of the American dream.</p><p><strong>Express your creativity. </strong>Are you sick of living with drab, beige walls? Are you itching to install a chandelier? Are you finally ready to <a href="http://www.quickenloans.com/blog/5-types-swimming-pools-add-home">build that in-ground pool</a> you’ve always dreamed about? Landlords don’t generally let you do that type of thing. But if you own your house, the home improvement store is your oyster! You can paint, remodel, destroy or restyle just about anything in your home, whenever you feel like it, and you don’t have to answer to anyone.</p><p><b>Help your credit. </b>Making mortgage payments on time will boost your credit score and show that you’re capable of taking on big financial responsibilities. And your credit score impacts so much more than your mortgage rate: It can affect the interest rate you get on car loans, credits cards, and any other kind of loan that you’ll conceivably take out in your lifetime. Good credit can be a powerful tool.</p><p><b>Don’t think about mortgage rates again for a long, long time. </b>Lock in a fixed-rate now and you’ll only have to worry about rates as often as you refinance your home or move. So unless you do one of these things between now and the time your home is paid off, high mortgage rates will be a problem of the past.</p><p><b>Gain a stronger sense of community. </b>As a homeowner, you’ll be surrounded by fellow homeowners who are probably a lot like you. You’ll be centered in a strong community of like-minded people, which can be a valuable asset for you and your family.</p><p><b>The Mayans were wrong. </b>Congratulations, you survived December 21, 2012! If the impending destruction of planet Earth was holding you back from your dreams of buying a home, it’s time to cast your worries aside and take advantage of today’s market conditions.</p><p>Is 2013 your year? If you’re ready to become a homeowner, <a href="http://www.quickenloans.com/home-loans/mortgage-pre-approval">call Quicken Loans for a preapproval today</a>. When you're finally ready to move visit <a href="http://www.pensketruckrental.com" title="Penske Truck Rental - Moving Truck Rentals">Penske Truck Rental.com</a> or call 1-800-GO-PENSKE for a high-quality truck!</p><p><em>Editor’s Note: This is a guest post written by <a href="http://www.quickenloans.com/blog/author/christine-bilger" title="Quicken Loans Blogger Christine Bigler">Christine Bilger</a> who writes for the Quicken Loans Zing! Blog. Reused with permission.</em></p></div>
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Moving Season: How Does Your Home Size Stack Up?
April 30, 2013
Did you know that there are more than 76 million owner-occupied homes in the U.S.? Now you do.
<p>Did you know that 75% of those are considered to be inside metro areas? Now you do.</p><p>Did you know that by average cost of square footage, New York City is 20 times more expensive than Detroit? Now you do<em> (and now you know that metro-Detroit has some great deals for real estate – trust me on that, my friends).</em></p><p>Did you know that in the Northeast, average homes are older and smaller than the rest of the country? Now you do.</p><p>That’s right. You now know all those things and you’ll learn a lot more home-based facts with today’s infographic from Quicken Loans.</p><p><em>Editor's Note: This is a guest post written by Clayton Closson and reused with permission from the <a href="http://www.quickenloans.com/blog/" title="Quicken Loans Zing! Blog">Quicken Loans Zing! Blog.</a></em></p><p><img class="rm-shortcode" data-rm-shortcode-id="5092c11e02519c7aa66ae896524457c0" data-rm-shortcode-name="rebelmouse-image" id="72306" type="lazy-image" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8xOTEyNzIyMS9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTYxMzg2OTkwNH0.e0aROseu8dF70x6IK9fIIkptetyRh_jdjL4_aDQRhZ4/img.jpg?width=980"/></p></div>
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