The rising cost of rent is encouraging many people to buy a home in Boise!
One reason many people are currently looking to buy a home in Boise is to escape the rising cost of rent in our area. And, it's not only Bosieans that are feeling the push. A recent survey reported by Realtor Magazine found that 50% of Americans expect the cost of rent to increase enough within the next year to make them lean toward buying a home. When you consider this with Fannie Mae's expectation that the cost of rent will increase more rapidly than the cost to buy, the choice to buy a home in Boise seems like a good one!
There are more reasons to buy a home in Boise NOW then just the rising cost of rent
In the same survey reported on by Realtor Magazine, 72% of the people surveyed agreed that now is a good time to buy a home. Here are just a few of the reasons why it makes sense for people to get off the fence and buy a home in Boise NOW!
- Mortgage rates are at historic lows, which greatly increases the affordability of homes.
- Home prices are still on the low end, but are steadily increasing and will become more expensive the longer you wait.
- There are still low cost foreclosures and short sales on the market. However, the number is decreasing at a growing rate, meaning that the longer you wait the fewer opportunities you will have to pick up a good deal on these types of homes.
- See more great benefits of home ownership HERE!