Why You Should Own, Not Rent

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Today, we’ll address why it’s better to own rather than rent in Northern Virginia.

The reality is, you have to live somewhere. You’re either submitting a monthly payment to a landlord or paying off a mortgage every month. It’s far better to pay off your own mortgage than someone else’s!

A mortgage allows a tax deduction, and that savings is huge for you! Whenever I help a first-time home buyer, they’re always shocked and delighted to see the tax savings by deducting mortgage interest. It’s incredibly rewarding.

Additionally, owning a home is a kind of forced savings. Since you have to either pay a mortgage or rent, a mortgage invests in interest and your principal.

If you’re thinking about buying or selling a home in the surrounding area, reach out by phone or email! I'm delighted to serve your real estate needs and answer any questions you might have.

The Latest News on Interest Rates for Northern Virginia

Selling your home? Get a free home value report

Buying a home? Search all homes for sale 

Surprisingly, interest rates are still historically low. Many economic experts predicted interest rates would increase steadily through 2016. However, due to the combination of volatile economic reports and our falling stock market, we’ve actually seen interest rates decline.

No one really knows what will happen next. What we do know is that rates are the lowest they have been since April of 2015. Many of the experts in the industry still expect interest rates will rise throughout 2016, but nobody knows for sure. Not the National Association of Realtors, nor Fannie Mae, nor Freddie Mac.

What you need to know is that rates are incredibly low. Read more about it in this article here. If you’ve been thinking about buying or selling, now is the time to take action. If you have any questions, give me a call or send me an email. I would be happy to help you!