If you have been debating if you should purchase a home in 2021, now is the time to take the leap. There are lots of reasons why buying a home right now makes a lot of sense.
Reason #1: Low Mortgage Rates
If you have been waiting for mortgage rates to drop before buying a home, now is the time to act. In 2020, mortgage rates for 30-year fixed mortgages hit record lows multiple times and are still low. If you want to enjoy a low mortgage interest rate and thus save money on the lifetime of a loan, now is the time to act before interest rates start rising again. When the economy is struggling, mortgage rates drop, making right now a great time to purchase a home and secure a long-term low mortgage rate. Locking in a low-interest rate will benefit you for the entire life of your loan, making 2021 a great year to purchase a home.
Reason #2: More Usable Outdoor Space
When you live in an apartment, you generally have none to very little personal outdoor space. Even when you rent a home, what you can do with your outdoor space is limited as well.
By purchasing a home, you can access more usable outdoor space. You can choose a home in a neighborhood where the houses are not densely packed next to each other, allowing you to enjoy more outdoor space.
This can allow you space to socialize safely outdoors with family and friends. You will have space for whatever outdoor activities you like, be it just sitting on your porch, building a garden, or installing a fire pit.
Spending time outdoor has become increasingly possible, and with your own home, you will have your own outdoor space.
Reason #3: Work-From-Home Space
Working from home is excellent if you have the space to do so. With more employers offering work from home opportunities, it is helpful to have a nice place to work from home. Working sitting at your kitchen table or sitting on your couch isn't the best set-up.
When you buy a home, you can purchase a home with enough space for you to set-up a decent home office that fits your work needs and is comfortable for you. With work-from-home gaining popularity, having a home that enables you to work from home comfortably is essential.
If you have been thinking about buying a home, 2021 is the time to make a move. You can enjoy low-interest rates on your mortgage and gain more usable outdoor space and work-from-home space. Talk to a real estate agent to start your home hunt today.