Augusta, GA -- (ReleaseWire) -- 02/02/2016 --First-time homebuyers in the market for a new home in 2016 are in luck. According to Berkshire Hathaway HomeServices, Beazley REALTORS® this year is a great year to purchase a home for several reasons.
"Millennials now represent a majority of the home buying market, and a whopping 68% of them will be first-time homebuyers this year," says Berkshire Hathaway HomeServices, Beazley REALTORS®. Affordability and value will be highly prioritized among those looking to purchase a home, and right now it's looking like finding a great deal won't be all that difficult.
In their blog Berkshire Hathaway HomeServices, Beazley REALTORS® shares 6 reasons why 2016 is shaping up to be a great year to purchase a home.
"While interest rates are difficult to predict and may creep on up, they still remain at historic lows, and it is likely we will never see interest rates this low again," says Berkshire Hathaway HomeServices, Beazley REALTORS®. Although home prices have risen over the past decade or so, homebuyers are still able to save money on their interest payments. This could end up making the higher price tag on the home worth it in the end.
Another reason to purchase a home in 2016 is that rental rates are steadily increasing. "In most metropolitan cities, monthly rent is comparable to that of a monthly mortgage payment, sometimes more," says Berkshire Hathaway HomeServices, Beazley REALTORS®. Most people would rather their income go towards their own asset than into the pockets of their landlords.
Berkshire Hathaway HomeServices, Beazley REALTORS® goes on to explain that the housing market is entering a cool down phase allowing for homebuyers to drive a harder bargain when it comes to the sale price of the home. In addition, a smaller down payment is needed to secure a home these days, and purchasing a home could mean some excellent tax breaks down the road.
Finally, there is expected to be more inventory in 2016. "As prices are plateauing, more homeowners are expected to put their homes up for sale in 2016," says Berkshire Hathaway HomeServices, Beazley REALTORS®. "Homebuilders are also planning to focus on middle-range and starter homes next year, which will provide a much-needed boost to housing inventory."
Read the full list of reasons to purchase a home in 2016: http://www.bhhsbeazleyrealtors.com/blog/purchase-augusta-real-estate-2016/
Those who are looking to purchase a home in 2016 are encouraged to speak to one of the qualified REALTORS® at Berkshire Hathaway HomeServices, Beazley REALTORS®.
About Berkshire Hathaway HomeServices Beazley, REALTORS®
Established in 1985, Berkshire Hathaway HomeServices Beazley, REALTORS® is locally owned and operated. The agency continues to set the pace in the Augusta metro area for high customer satisfaction. The real estate agents at Berkshire Hathaway HomeServices Beazley, REALTORS® stay on top of real estate trends, and have plenty of homes for sale in Augusta, GA and Aiken, SC. Whether you are buying or selling a home, Berkshire Hathaway HomeServices Beazley, REALTORS® will make your experience not only simple, but enjoyable. For more information interested parties can call 706-863-1775.
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