During the last 50 years, homeownership was viewed as a way to build wealth. People would buy homes, and they would appreciate in value over time. Homeowners could then either sell them and get a return on the appreciation, or they could sit on them knowing their mortgage debt was decreasing while their property value was increasing.
All that changed around 2007, and some began to question whether a home was a good investment for building wealth anymore. But actually, the basic principle “buy low, and sell high” makes NOW an excellent time to buy and invest in building future wealth.
If you are in the market for a new home, there are five things you should know about today’s market that make buying a Hayden Home NOW, a great option:
1. Interest rates are at record lows, allowing buyers to spend less on financing.
2. Residential rent is up 3.3 percent to 5 percent this year. Renting is becoming more expensive–often more costly than buying a home (in 98 of the top 100 markets)–so you can invest your money towards ownership and self-wealth, rather than lining the pockets of your landlord.
3. Houses are more affordable than they have been in decades, and people are spending less of a proportion of their income on housing than in years.
4. Used-home inventory is down almost 20 percent, so it’s harder for buyers to find what they want in an existing home. New homes, on the other hand, are mostly built on-demand, so you can get the home of your dreams built at record low interest rates and great prices.
5. Median wages are increasing, and there’s a possibility of inflation, so buying a home while the prices are at record lows means there is more opportunity of a price increase or inflation increase in the future.
Hayden Homes offers a great value and opportunity for increased wealth because our homes are well made, beautifully designed, and in desirable locations, yet affordable. Location, design, and quality are all traits that increase home value over time. Poorly-made, lackluster homes, on the other hand, tend to depreciate.
In addition, realtors tell us the brand name appliances, upgraded fixtures, and add-ons such as granite countertops and fireplaces greatly increase the resale price of a home–and all of these are options in your Hayden Home.
If you are interested in viewing our communities and new home inventory, don’t hesitate to check out our website for available floorplans, features, and community amenities.