5 Reasons To Buy A West Knoxville Home Now
Are you thinking about buying a home in West Knoxville? With all the bad press about buying a home in today’s current market, it can be easy to forget the reasons of why it can be great to own a home. If you are thinking about buying a home in West Knoxville, but are still on the fence about making the descision, here are a few reasons that might convince you otherwise.
- Right now, you can get a great deal on a West Knoxville home. There is no denying right now is a great time to buy. Interest rates are at historic lows. Instead of being in the high 6.0% interests rates, rates are significantly lower in the 4.0% range. Also, home prices are at historic lows. In 2009, the average sales price of a 4 bedroom home was $308,500. In 2011, the average sales price for a 4 bedroom house was $251,500. That’s $57,000 drop in price in 2 years. For someone planning to stay in the Knoxville area, right now is the time to buy a home. Low prices and interests rates = big savings!
- The monthly mortgage payment you currently make on your West Knoxville home will remain the same. So long as you have a fixed rate mortgage, you payment will be the same in 5 years, 10 years, and beyond. Knowing what your monthly payment will be down the line, allows you to plan and budget more easily.
- Homeownership allows you more freedom to make your home truly feel like your home. Are you sick of not being able to decorate the way you want to in your apartment? Would you like to have your own private yard to landscape the way you want? Homeownership offers you the freedom to take advantage of decorating, designing, and remodeling on your own terms. You won’t have to worry about being charged when you move out.
- You are much more likely to build relationships with your neighbors. People who rent are tied to short term leases, so they are much more likely to come and go more frequently than those who own their homes. People who own their homes have more shared space to get to know the people around them. With community pools, clubhouses, and other shared areas, people are much more likely to build relationship with their neighbors.
- When you buy your West Knoxville home, you are not throwing your money away. Every month when you pay your rent, you know you will never see it again. When you buy a home, you build equity over time. The current market should not deter you from buying, experts say it will recover over time. Buying a home in Knoxville is an investment, and if you are considering buying, you are probably planning on staying awhile, so that will give time for the market to recover. Right now, is a great time to get that investment at low price.
With prices and rates at historic lows, now is a great time to buy a home in West Knoxville. If there is anything I can do to help you in your home search or any questions I can answer about buying a home in West Knoxville, please to not hesitate to contact me. You can give me a call at 865-696-9002, by email, or leave a comment on this post.
What do you think about buying a home in West Knoxville? What are you waiting for?