Purchasing a home can be considered one of the safest and stable investments. National median home prices have risen every year since 1968 even through the recession.
One of the biggest benefits of being a home owner is the ability to deduct your mortgage interest off your taxes.
As your home increases in equity, a cash-out refinance lets you pull out capital for productive uses. ie: renovations, money for college, etc.
Rents tend to increase over the years and because Torrance is not rent controlled your landlord has the right to increase your rent over the years. This leaves tenants with no control or predictability of how much their future payments will be. If you purchase your home with a fixed mortgage rate your payments will always remain the same year after year.
With no landlord to adhere to, homeowners have the creative freedom to make changes to their home.
I have helped many buyers navigate through first home buying experience. Please don’t hesitate to contact me with any questions or to set up a consultation to see if buying this year is in your best interest.