According to this slide from an exclusive Freddie Mac zoom that my office had the privilege of being invited to, roughly 2/3 of people in MD, VA and throughout the U.S. own while roughly 1/3 rent.
A few thoughts:
- If you are among the 1/3 who is renting, are you doing so due to lack of homes for sale where you live, homes in your neighborhood are out of your price range; are you not certain if you want to plant roots; are you are saving money for a down payment, paying off debt, etc.? We should talk as there are homes in many price ranges and while the market is hot on other areas, it maybe softer in other areas. If you have flexibility in where you would buy to live, that works to your advantage. There are many loan programs out there. Explore which program(s) are the most advantageous for you.
- If you own a home and have been thinking about selling for a few years, now is the time to get off the fence. Some of the 1/3 who rent want to buy and haven’t been able to find a house. Supply and demand.
- If you are an investor or have thought about becoming an investor, there a number of people who may prefer to rent than to own and if the numbers work, you should consider buying another investment property. And if you are flexible in terms of location for a potential investment property, that works for you as the market may be softer in some areas compared to others. Interest rates are amazing for primary residences, vacation homes and investment properties.
Whether you or someone you know is thinking about selling or buying a primary residence or investment property, reach out to me for a free consultation:
Cell/Whatsapp/Text: (301)943-4370
Office: (301)921-4500 – ask for Adam
Email: adambashein@gmail.com
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Information deemed to be accurate but not guaranteed
