Top 5 Reasons to Buy in Fall 2019

Hello Los Angeles(current or Soon to be) Residents! Kevin DaSilva Here for all of your real estate needs and questions. Welcome to our Official Blog!

Top 5 Reasons to Puchase in the Fall of 2019:

1. Low Down Payment Options are Available Now:
Six years ago, if you didn't have 20% down or were buying in an FHA price point, you weren't buying a house. Today, that isn't the case. Lenders are offering as low as 3% down with no PMI (mortgage insurance). Many lenders even have 5% and 10% down options up to $2M. Should we come out of this winter in a sliding market, say goodbye to your chances for buying a $1M home with only $100,000 down.

2. Tax Credits for This Year:
We could honestly have a whole post on tax credits surrounding home ownership but here are a couple key points;
-If you don’t have a mortgage greater than $750,000, you can deduct the interest you pay on the loan.
-Owning your home has the ability to deduct property taxes.
-If you paid points to your lender when you got your mortgage or refinanced an existing one, you can take advantage of a tax deduction. The only caveat is that you have to have actually given money to the lender for these points.

3. Whose mortgage are you paying?:
As Entrepreneur Magazine, a premier source for small business, explained in their article, “12 Practical Steps to Getting Rich”: While renting on a temporary basis isn't terrible, you should most certainly own the roof over your head if you're serious about your finances. It won't make you rich overnight, but by renting, you're paying someone else's mortgage. In effect, you're making someone else rich.

4. Less Competion:
You know that feeling you get when you get off work, the sun has already gone down, and it’s cold outside? You really just want to relax at home, watch some TV and eat your dinner. News Flash!!! So is everyone else. That’s part of the reason why the market slows down over the holidays. The good news is that all of the homes that are on the market still need to sell. Here’s your chance. Seize the opportunity, turkey and all... 

5. Don't let Black Friday Ruin your Debt to Income Ratio:
Secure your financing before the holiday shopping seasons starts. You know that holiday bonus is coming but your lender may not know. Have somewhere to put that new flate screen. 

Sources:
https://www.doughroller.net/taxes/tax-benefits-for-buying-and-owning-a-home/?fbclid=IwAR3P7JMl2c3fKkCbglk-nWAG6IN0rfR0OKf6hKcv9UHhahyBLbtZEJXl9nY

https://www.entrepreneur.com/article/286196