Alaska is experiencing a perfect storm when it comes to the coronavirus pandemic and its impact on our economy. But this also may be a better time than ever to begin to build wealth.
Sheila Monson, one of the state’s top real estate experts says one of the best ways to build wealth is through real estate. Monson says last week she helped a couple with four kids move out of a place they were renting into their own home.
“They got into a home twice as big as they were renting and it’s going to cost them less money than what they were paying in rent,” says Monson.
Monson says there’s never been a better time for renters to become homeowners with interest rates as low as 2.75%.
“Most of your payment is interest so with rates so low you can pay off more principal each month and have your home paid off really fast, “says Monson.
Monson recommends renters text her the amount of their rental payment and she will let them know what homes are available for the same monthly payment. Her number is 907-841-0840. Check out her Alaska Living and Real Estate blog at SheilaMonson.com.