Are you planning to buy a house in Portland, Oregon but find yourself confused about the decision? As local real estate agents in Portland Metro and residents, we can confidently recommend you to turn your dream of owning a house in the beautiful city of Portland into a reality.
Yes, the myth is true that Portland is a hot seller’s market. The median sale price for a Portland metro home rose by 4.5% in 2020, amidst the effects of a global pandemic. So with the prices so high—why would we suggest you invest in a home in Portland at this time?
Well, there may be several reasons for that—from the quality of life and friendly neighborhoods to incredible learning, medical, and recreational facilities—Portland may be the dream land for your perfect home.
Why Move to Portland, Oregon?
Here are a few of the reasons why investing in a Portland home is a good idea:
Low Mortgage Rates
If you’ve performed a thorough analysis of real estate properties in Oregon, you’d probably already know that interest and mortgage rates are low in this part of the state. The interest rate recently dropped to an all-time low of 2.9 percent and currently sits at 3.10 percent on a 30-year fixed rate.
It’s considered smart for homebuyers to capitalize on the low interest rate and lock in the deal for a seamless payment routine in the future. Of course, the procedures require experienced and industry-polished minds to work up the right plan—and our Oregon real estate agency can help with that.
Tax Incentives and Benefits for Home Owners
Home purchases come with several tax benefits for homeowners. Particularly for the people who are buying a house for the first time—might take advantage of financial incentives to encourage them to purchase a property. However, all homeowners will benefit from tax reductions, including deducting the interest you pay on your mortgage from the taxable income. Other than this, several of your property taxes are also deemed deductible by law.
So, you can invest in homeownership in Portland without worrying about hidden costs in the future if you acquire the professional services of local real estate agents in Portland Metro.
Portland Real Estate Value Predicted to Increase
If you think the real estate market of Portland is booming today, wait till you read the prediction reports of its value in the future. The real estate market of Portland has averaged a staggering 7.15 percent increase annually—with the prediction indicating that the market will boost another 10.4 percent in the next 12 months.
Planning to Buy a House in Portland? Consult an Oregon Real Estate Agency
Home Property Group is a team of Portland Maine real estate agents ready to assist you in accessing, buying, and renting homes in the city. Our services cover several surrounding areas, including West Linn, Tigard, Lake Oswego, and others.