First time home buyers: Right now rates on an FHA 3.5% down loan are 4.5%. Considering the almost certain rise in inflation over the next 5 years and considering the fact that most first time home buyers spend on average 4-6 years in their home, this could mean you’re effective interest rate is near zero. Now factor in all the write offs you have a mortgage plus tax credits you can still earn towards improving your home (windows, furnace, energy efficiency insulation, etc.) Plus in some areas of Grand Rapids City and other areas there are grants available toards down payment…..this is your time!!! Combine all that with the amazing selection that’s out there at truly reduced pricing (take the last 10 years of growth in value and back it out….we’re at pricing levels of 2000.)
If you would like to run the numbers, I invite you to have fun on the rent vs. own calculator on our website, www.mynewgrhome.com.
In addition to the numbers, consider the fact that you get to paint the walls any color you like 🙂