Why you should Buy a Home In 2016

We listed down the benefits of buying a home now that we just started 2016. If you are a first time home-buyer, just moved out of your parents house, had been renting out forever or buying a second home for investment, here are reasons why you should buy a home in 2016.

1) Mortgage is cheaper than rent.

It has been a trend for rental rates to continue to rise each year. In most markets, monthly rent is higher than average monthly mortgage. And as everyone know, mortgage payment is secures an investment while paying for rent is not. See this US News Money article on Rental Rates on the Rise. 

2) Indy homes has one of the most reasonable prices in America.

According to CNN Money, Indianapolis is one of America's most affordable cities to buy a home based on home prices, median income and mortgage rates. Check out the article in their Most Affordable US Cities to buy a home. If you are getting one of the best home deals in the nation, why should you even hesitate?

3) There are low mortgage interest rates. 

Whether it's 30-year fixed-rate, a 15-year fixed-rate, the interest rates remain unchanged based on Freddie Mac's mortgage rate survey during the start of the year. See the results of Freddie Mac's survey here. With affordable home prices in Indianapolis, here is one more aspect that can help home buyers save money.

4) Think long-term investment.

Buying a home is one of the best long-term investments. Some may say Real Estate market is cyclical with lots of ups and downs, but if the trend continues this 2016, this is the best time to be a home buyer.

For more tips on buying a home, please call Lora Reynolds, Broker/Owner of Indy Homes Realty Group, LLC at 317-496-6291 or visit her website at www.lora.indyhomesforyou.com and start your house hunting. Good Luck!