Still on the fence about purchasing your first home? Have friends and family that bought during the recent boom and are having to make some very difficult choices? No doubt, it’s been a tough couple of years for our economy. Likely, we still have some hard times in front of us. However, make no mistake about it! The “American Dream” of home ownership is still very much alive and well!
Folks are still buying and selling homes! Those sellers are still buying homes or desire to do so again in the near future! 30 yr. fixed rates are still AMAZING low! The job market continues to improve, particularly in Hampton Roads ! Homes are more affordable than ever!
Regardless of your political views, remember these powerful and timeless words of FDR: ”A nation of homeowners is unconquerable”.
Rather than expecting instance gratification, follow a more traditional approach when it comes to investing in real estate. Plan on owning your 1st home for at least five to seven years. Appreciate living in a home of your own while allowing your investment to truly appreciate in value. Indeed, making the transition from tenant to homeowner is a big step. However, this rite of passage remains the key to long-term financial security and overall contentment.
