10 Reasons You Should Buy a Home Now
Since its founding in 1998 with the merger of CBS Real Estate and HOME Real Estate, CBSHOME has exploded into Omaha’s leading residential real estate company with a broad market across pricing and demographics. It boasts more than 400 agents in two offices, averages a 14 percent larger sale transaction than the MLS average, and has earned the Best Of Omaha Award as the region’s No. 1 real estate company year after year.
The full-service operation includes Nebraska Land Title & Abstract, CBSHOME Insurance, CBSHOME Relocation Services ,and HomeServices Lending, creating a one-stop shop where experts handle everything from mortgages to titles, from escrows to insurance to relocation, and more. Their people have the best education, training, marketing, and technology at their disposal, and the No. 1 website (cbshome.com) for Omaha’s real estate marketplace.
Below is more on why you should buy a home with CBSHOME today:
1. It’ll be cheaper. According to a study by Marshall Marketing, 30 percent of people don’t plan to buy or build a home in the next two years, but the time to do so is now more than ever before.
Rates set to hike. The Federal Reserve will likely hike interest rates should the economy boom, and if recent tax and budget proposals pass, this could, coupled with a strong economy, lead to inflation, which would increase the likelihood of a rate hike further. In addition, government-sponsored home loan organizations like Freddie Mac and Fannie Mae may become privatized, which could also lead to higher rates as the private sector demands compensation for bigger risk pools.
Real estate prices on the rise. Real estate prices have been rising for several years, and are only set to rise more as the economy gains momentum. You’ll likely find a better value today than you will two, three, or even five years from today. (Think how much housing prices exploded from, say, 2001 to 2006.)
2. It’ll be easier (even with less than stellar credit).
Regulations to soften. Today’s strict regulatory environment may loosen. While a poor credit history can make or break a mortgage application, the fast approach of looser regulations will encourage the appearance of more mortgage products for those with subpar financials.
Loan process to relax. You should start making qualifying for a loan easier (even with poor credit) by decreasing your debt, adding another income, considering a starter home, disputing discrepancies in your credit history, and saving more toward your down payment. While it’s not a requirement to put down 20 percent or more, the larger your down payment, the lower your debt-to-income ratio, meaning a better loan at a lower rate and possibly avoiding mortgage insurance.
Good guidance available. You should hire a mortgage expert who enjoys long-standing relationships with lenders, and can secure you a better rate than you can yourself. CBSHOME’s HomeServices Lending, for example, will personally guide you through the loan process and cater to your individual needs.
3. It’ll be a good deal.
Sell high, buy low. While 48 percent of people say they feel happy with their present home (according to a study by Marshall Marketing), they may be missing out on fabulous opportunities. Rising real estate prices means you’ll likely flip your current home at a profit, while being able to purchase a bigger, better value on the Greater Omaha market.
4. It’ll be in financial reach (more than you think).
Where there’s a will, there’s a way. If you’re concerned loan payments or home prices are too high, you should exhaust your possibilities anyway, including going for a smaller home and upgrading, remodeling, and/or adding more square footage later; bringing in family as investors; renting or subletting part of your home; and consulting with CBSHOME’s experienced real estate professionals.
5. It’ll be fun (because you’ll see homes you really want).
Finding a good agent. If you can’t find homes you like in the area you’d like to live in, it’s because you haven’t landed the right real estate agent! With over 400 agents across the Omaha Metro and Council Bluffs area, CBSHOME employs real estate experts who not only know the current but also the future market, including properties not officially for sale yet and pocket listings that never go public.
6. It’ll save you money.
Increasing tax benefits. As a homeowner, especially a first-time buyer, you’re eligible for various kinds of deductibles and credits. Discuss your real estate tax benefits with an accountant and a mortgage expert to maximize the reward on your return.
7. It’ll give you creative license and pride.
Freedom of expression and investment. When you own your own home, you’re free to do what you want including painting or blowing out walls, replacing the hardware, refinishing floors, ripping out carpeting, remodeling the bathroom, blasting out the kitchen, etc., and since there’s a personal investment in the property, you’re more likely to do so. Pride of ownership also means you are more likely to do home repairs and improvements like fixing that leaky faucet or broken mirror, or perhaps redoing the patio, which means living in a nicer place for you and your family.
8. It’ll be a large investment in yourself.
Paying money to you. Every month when you pay your mortgage, the money goes toward your home and your life — you’re creating a large personal “nest egg” that’s growing equity. You can take advantage of this investment when you need another loan, decide to sell, want some cash, etc., which you can’t do when you’re throwing money to your landlord every 30 days.
9. It’ll create consistency.
Fixed monthly payments. Since you have a fixed rate when you have a mortgage, your payments won’t fluctuate like they do with rent. This reliability should give you peace of mind until you decide to refinance your mortgage.
10. It’ll mean pet freedom.
Making room for Fido. If you own your own home, you decide whether you want a furball, not the landlord nor the wallet when s/he asks for a big pet deposit.
To find out more about home buying in Greater Omaha, visit www.cbshome.com/buynow