Since the start of the pandemic, the news for real estate in America has been dramatic. Before the era of COVID-19, America was already in a state of affordable houses being in short supply. Now that there has been an entire revolution of remote workers working from home, more people want more space, and many city dwellers also have come to settle outside of tight city spaces with more outdoor space available.
Buying a house in the last two years in most U.S. has not been for the faint of heart as we’ve seen house prices skyrocket, contingencies being dropped, and people paying much more than the asking price, sometimes without even seeing the house in person!
This can make anyone wary of stepping into the market for an average first-time homebuyer. Perhaps your family is growing, or you just want to live in a place where you can paint the room any color you please without having to ask your landlord first.
There are a vast array of benefits to owning your own home. Here are just a few:
Stable monthly housing costs
Although landlords can raise rent every year to keep up with inflation, your mortgage is locked in, serving as a steady payment that will stay the same for years to come.
Opportunity to build equity
When you pay $1000 in rent for a year, you don’t get any of that $12,000 you paid. When you make mortgage payments each month, you’ll be paying off your home loan bit by bit. If you decide to move before you pay off your house in full, you can still sell your home for profit, pay back your loan, and keep the rest!
An appreciating asset
Depending on the housing market, your home, and your location, you can make an immense profit off your house when you’re ready to sell. No matter what, homes have been appreciating at an average of 3.9% on an annual basis. While that may not match the stock market, it appreciates much more than your current rental!
Mortgage interest deduction
There is a huge tax incentive for homeowners. This itemized deduction counts the interest you paid on any loan related to building, purchasing, or improving your primary home against their taxable income.
An opportunity to “personalize” it however you see fit!
Want to hang a shelf, paint a wall, or take down a wall to open up your space? When you own it, you can do whatever you’d like to the place because it’s yours. There’s something special about having a special place to call all your own.
Here at Fox Capital, we offer affordable homes to purchase with a range of buyer assistance programs, including rent to own and seller financing.
We offer affordable homes to purchase with a range of buyer assistance programs, including rent-to-own and seller financing. Rather than getting a mortgage through a bank, we can help you not only find a home but we can also finance the loan of your home with competitive interest rates.
We also offer an infrequently used program, rent-to-own, where you enter into an agreement where you can rent your home for up to three years before closing. Half of every single rent check (paid on time) will go towards your equity. Your monthly rate will be comparable to an average rent, and in some cases, it may even be lower than market rents.
Are you looking to invest in real estate?
Single-family houses as real estate investments are pretty lucrative since the pandemic has hit. More growing families want more space than an apartment or townhouse can offer, but for whatever reason, they want the flexibility that renting offers.
Average annual returns from single-family rentals were almost identical to stocks and bonds over the past 25 years but with far less volatility. In mid-2021, single-family rent prices increased at their fastest year-over-year increase in over 16 years.
If you’re unsure where to start but are seriously interested in investing in this type of real estate, that’s where our expertise and over 30 years of experience can help you!
Fox Capital partners with private investors to generate high annual interest returns while making a difference at the same time. Investors in our program have collected passive income checks on a monthly or annual basis with zero defaults and zero capital losses since we launched.
Through our strategic real estate investment projects, we can provide great returns and simultaneously offer affordable and easily accessible housing nationwide. You can learn more about what Fox Financial in this or other real estate investment areas by contacting our team today.