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House Appreciation Rises, Which Means It's Time to Buy. Here is Why!

August 7, 2017

Housing Prices Are Going Up in the San Antonio Market and So the Question Arises

Is it time to buy or should I wait and see if prices go down next year.? Given the uncertainty of financial markets in the 2nd half of 2017 adds to the complexity of the question. But, we think the answer is YES, it IS time to buy. Especially now, in San Antonio. Here is why.

In San Antonio Today, Inventory is High

An outstanding selection of new homes for sale is a plus for the new home buyer. While the prices of those homes may be modestly increasing, the large number of homes available means it's still relatively easy to get into a new home. With inventories plummeting in other parts of the country a large selection to choose from is a plus for the San Antonio Market.

Homeownership Remains a Solid Investment for Individual Households 

Buying a new home has a track record that can compete with any other purchase in terms of its real benefits. Buying allows families to build financial security as the equity in their home increases and affords families the stability of a beautiful home and a place in a community that adds richness to life. As homeowners repay mortgages, debt declines all while the wealth and equity in the home grows. Compared to other investments, such as stocks, a home is a relatively stable investment.

Home Ownership Offers fantastic Tax Incentives 

It’s by far the biggest and best tax break for middle America. Collectively, homeowners save nearly $100 billion annually on mortgage interest and property deductions alone. These tax incentives are designed to make owning a home more affordable, and in most instances, all of the interest and property taxes you pay in a given year can be fully deducted from your income to reduce your taxable income. These deductions can result in thousands of dollars of tax savings, especially in the early years of the mortgage when interest makes up most of the payment.

Owning a Home is Like Investing in an Automatic Savings Account. 

You accumulate savings in two ways. Every month, a portion of your monthly mortgage payment goes to the principal, reducing the overall loan amount. Each year, a greater percentage of your mortgage payment goes to paying down the principal. Second, your home appreciates over time, making it one of the very best financial investments. As your property appreciates, you build up equity in the home, increasing your household wealth.

Owning a Home Provides Price Stability for Your Living Costs

While a rent payment can change substantially from year-to-year, you will have the same monthly payment for 30 years under a fixed-rate mortgage. Even if you choose an adjustable rate mortgage, your payment will stay within a certain range for the entire life of the mortgage. With interest rates today running near historical lows you can have confidence in your decision to buy. Finally, knowing mortgage payments will stay the same month after month provides households with a sense of financial security and also acts as a hedge against inflation.

Yes, home prices are rising, but that doesn’t mean that you should wait to buy a new home in San Antonio. Getting in on the very accessible market is a great investment for the future of your family.

We are forever grateful to Scott Felder Homes! We lost money and time with another home builder, but once we found Donna at Rim Rock we knew we had found our forever home. She instantly wanted to help and did! I let her know what we wanted and within a couple of days she had a lot and floor plan just for us! The entire process was true perfection! We never felt like we were just another family; never rushed or told no. We got exactly what we wanted! Our fireplace was extremely important and our designer made it happen. After designing our home Donna and our Project Manager Chad were professional and communicated every step of the building process to us. It truly went so smoothly. This team was just what we yearned for when building our dream home. My parents just came to see us and they loved every single detail of this home. We had a few minor issues once inside our home, but the problems were fixed within 48 hours. These guys know what they are doing and know how to give the best customer service! Thank you Scott Felder, we are forever grateful and can’t say it enough!

Mercedes F.