As we approach the new year of 2016 there are many factors in why it is a great time to buy a home and to add it to your new year’s resolutions. Home ownership can be very exciting as you begin building equity and establishing some roots. Although it can make one nervous to make such a large purchase, there are a few recent changes that should help quell one’s anxiety in the process.

The current economy continues to hold strong while the forecast appears to look bright as well. With a couple of recent changes to the mortgage process, 2016 is looking to be a great time to make a move and purchase a home. Let’s take a look at some compelling facts.

Rents are getting expensive. Rental rates in many urban communities are not showing any signs of weakening. With demand for apartments being consistent as well as newer inventory offering big building services at premium rents, the best way to combat that is to buy instead of rent. In fact, in the last 12 months 88% of property managers raised their rents.

Interest rates are at all time lows. In a recent survey by Freddie Mac there is little sign of change in the average 30 year fixed loan. In fact, this fall we saw an average at 3.89% which was down from 4.16% a year ago. Even with any threat of slight increases, money is still at historic lows to borrow and makes for greater possibilities for what one can afford.

Clearer mortgage terms. There were recent TRID changes making disclosures mandatory for buyers. This can assist first time buyers immensely as it is their first time to the rodeo. Clearer terms of what is expected financially will help dodge any last minute surprises offering a smoother transaction.

Down payment protection. Your down payment may be one of the scariest and largest checks you will write. Protection for this large sum of money is a new option for home buyers offering peace of mind. Much like we have private mortgage insurance (PMI) where mortgage companies have insurance on the mortgages, home buyers will have the same on the amount they put down up front.

With the average employee in the U.S. staying at a job for 4.6 years (and 3 years for millennials), these factors should make for a more comfortable move knowing there are so many elements in favor of purchasing, even if only to stay in that home for a handful of years.