Top Five Reasons to Buy a Home
November 8, 2012
Tune into any news report in recent years, and chances are, you’ve heard all of the reasons not to buy a home—depressed markets, undervalued market values, inflated or underinflated appraisals, underwater mortgages, foreclosures…the list of nightmare scenarios rolls out in popular media and discourages many prime candidates for home ownership by instilling fear of the worst-case scenario in potential home buyers. What these reports fail to mention are the positive reasons to invest in a home:
1. You can get a good deal. With the right Realtor® on your side, it’s a buyer’s market—what was once a home that might have been out of your price range could be the bargain of your lifetime—isn’t that worth checking into?
2. Mortgage Rates. Right now, some of the lowest rates on record are being snapped up by savvy buyers. Continued deflation drives these rates down even further, helping homeowners refinance their mortgages at lower and lower rates.
3. Taxes. You’ll save on taxes by deducting the mortgage interest from your income taxes, but keep in mind; you’ll need to do the math to figure out the best options for you. Before you enter into any real estate transaction, make sure that you consult with an accounting professional to find out when and how to get the best tax deductions on your home purchase. Make your new home work for you!
4. The security and satisfaction of being a home owner. Though you’re now responsible for repairs and taxes, you’re also putting your money into a home and piece of property that will eventually be yours to sell or pass along, and in the interim can be improved and enjoyed the way you wish it to be—something that a renter can’t do.
