We can’t always predict the future. Okay, we can never predict the future, but one thing we do know is, 2013 is going to be another great year to buy a Gulf Shores home.
Reasons You Should Buy a Gulf Shores Home in 2013
1 – Mortgage Rates Remain Near All-Time Lows
Just a few short years ago, 30-year fixed rates were above 6.00%. For December 2012, they averaged 3.35%. If you don’t speak mortgage, this means that by buying now, you’ll likely save thousands of dollars in interest, because rates can have a huge impact on your mortgage payment. Don’t wait for low rates to go the way of the dinosaur — when they’re gone, they probably won’t be coming back for a long, long time (if ever).
2 – Home Prices Won’t Be This Low Forever
Gulf Shores home prices have been sitting pretty low for a while now, but this isn’t going to last: home prices are officially on the rise. 2013 could be your last chance to grab a cut-rate price before it becomes ancient history.
3 – Save On Next Year’s Taxes
By buying a Gulf Shores home, you’ll be able to deduct everything from real estate taxes, to private mortgage insurance, to loan points paid on a purchase. In other words, homeownership and tax savings go together like pumpkin pie and whipped cream. You can find out more about tax benefits of owning a Gulf Shores home by browsing the “Taxes” category to your right under Gulf Shores Real Estate Categories.
4 – Build Equity
Think of your mortgage like a “forced savings” program. Yes, you’re writing your mortgage company a check each month, but that money, less the interest you’re paying, is still yours in the form of equity. In essence, the difference between renting and owning a home is that homeownership lets you build up your own monetary value, instead of your landlord’s.
5 – Protection Against Inflation
Landlords have a tendency to increase rent every year or two to accommodate for inflation. This won’t happen if you own your Gulf Shores home. Having a fixed-rate mortgage means you’ll make the same payment for the life of your loan, so you won’t ever pay more unless you want to.
6 – Help Your Credit
Making mortgage payments on time will boost your credit score and show you’re capable of taking on big financial responsibilities. Your credit score impacts so much more than your mortgage rate: It can affect the interest rate you get on car loans, credits cards, and any other kind of loan you’ll conceivably take out in your lifetime. Good credit is a powerful tool.
7 – Something to be Proud of
You can’t help but feel a real sense of accomplishment when you’re handed the keys to your very own Gulf Shores home. Your house is the physical manifestation of your years of hard work and financial responsibility. And nothing says “success” like owning your very own piece of the American dream.
Ready to make 2013 the year you buy your Gulf Shores home? Give us a call, or contact us by using the comment link below.