With so many people being forced to shelter in place, the idea of home has changed for a lot of people. Instead of buying based on short term needs, people are thinking about their long-term goals. Investing in Incline Village, NV real estate is a great purchase because a mortgage acts sort of like a forced savings plan. Every time you make a payment, you gain equity. Whereas rent is basically thrown away each month.
Homeowners have gained substantial equity over the past year with a lot of sellers sitting on large amounts of money in their Incline Village, NV real estate. While some may expect the housing market to crash with the current pandemic, the truth of the matter is demand for Incline Village, NV is still high while inventory is still low and houses are still holding their value. Which means now is a great time to buy homes for sale in Incline Village, NV. For a majority of families, their largest financial asset is their home. Every time they make a mortgage payment, they build their personal wealth while a renter is simply building the net worth for someone else.
“The CoreLogic Home Price Index recorded a quickening of home price gains during the fourth quarter of 2019, helping to boost home equity wealth. The average family with a mortgage had a $7,300 gain in home equity during the past year, and a total of $177,000 in home equity wealth.”Frank Nothaft, Chief Economist for CoreLogic
Prices for homes for sale in Incline Village, NV may moderate during this pandemic but once a vaccine or cure is available, experts predict that values will begin to appreciate at the rate we saw prior to Covid-19. This means now is a great time to purchase and take advantage of the incredibly low mortgage rates. Not only does owning homes for sale Incline Village, NV add to your family’s personal wealth, but you have flexibility with your property: you can live in it year round, you can rent it long term or for a seasonal ski lease and use it for a chunk of time, or vacation rent it and use it when it is vacant. For more information on buying, feel free to reach out. We would be happy to help!