Does it make sense to own real estate, even in a skyrocketing market?
In a growing market where prices and interest rates are increasing, does it make sense to be a landlord or homeowner? Home prices rose 26.9% last year in Salt Lake County alone. We saw interest rates climb again recently, and they’ll continue to trend upward. Today I’ll discuss that question and and share a few reasons why it still makes sense to own a property, even in an inflated market.
Feel free to watch the full message above, or use these timestamps that will direct you to various points in the video:
0:00 — Introduction to today’s topic
0:50 — The story of what happened when I bought my first duplex
2:50 — When you own a home, you’re paying off your own mortgage, not your landlord’s
3:40 — The longer you rent, the more rent prices escalate, and you can’t save up as much to buy your own house
4:50 — When you own a property, you build equity over time
6:10 — Consider buying now to lock in a lower interest rate
6:25 — Wrapping up today’s topic
My team of experts and I are dedicated to assisting you with buying, selling, and knowing the value of houses. If you have any questions or need assistance, please reach out via phone or on our website. We hope to see you soon.