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Washington DC Real Estate Tips
Washington DC Tips
Michele Buckman has put together some videos discussing the current DC market and what the future may hold for the real estate market in the Washington DC area.
Advantages to Buying a Washington DC home Now
Now is a great time to consider buying a Washington DC home: interest rates have never been lower, and many people are snapping up their dream homes at unbelievable prices. However, there are other reasons to own a home, such as:
- Building equity. Owning your own home means building equity, because your mortgage payments go toward paying down your principal debt. Theoretically, your home should gain in value the longer you own it. The difference between what you owe and the value of your home is equity. When you rent, you are growing someone else’s equity.
- Predictability. Tax, gas, and grocery bills may rise, but your fixed rate mortgage payment is a predictable cost – it’ll be the same amount each moth for the life of the loan. When you rent, your monthly rent payments can and will go up with time.
- Tax Breaks. You can deduct the interest you pay each year on your home loan. You can also deduct the cost of your property taxes, and some energy-efficient upgrades can be tax deductible as well (consult your local tax expert for more information.
- Appreciation. Home prices finally moving upward again -- nearly 10 percent over 2011 prices. Real estate is a long-term investment, and your home should gain value as the years go by. If you decide to sell in the future, you could be looking at a pretty nice profit.
- Social Benefits. Researchers have learned that homeowners generally rate themselves as healthier and happier than their renting counterparts. This is can be attributed to the stabile environment that homeownership brings – for yourself, and your family.
There’s never been a better time to become a homeowner. Need help with the next steps to buying a Washington DC home? Please call Michelle Buckman. Specializing in real estate in Washington DC, real estate professional Michelle Buckman will help you with buying a Washington DC home.