10 Reasons To Buy a Home Now!

1. Cheap Interest Rates: It’s unlikely that you will ever be able to buy a home with cheaper mortgage interest rates than we are experiencing right now.  ie: A 6% loan on an $80,000 loan costs approximately $477 per month, while that same loan at 9% would cost you about $639 per month.

2. Buyer’s Market… current market cycle is down from previous market highs, thus you are able to make a good home purchase for less that it would have cost you in recent years.  Take advantage of the current market and turn it into a blessing for you.

3. Predictability... Unlike rent, your mortgage payments with a fixed rate mortgage, don't go up over the years so your housing costs may actually decline the longer you own your home.  However keep in mind that property taxes and insurance costs will rise

4. Existing is cheaper… existing homes in average or above condition, still cost you less than building new.  When building you must figure for a cost overrun of 20-25%.  There are always things you didn't plan on, a lawn, sidewalks and oh yeh, that bath fixture upgrade you wanted.  Plus, you can move into the home without having to wait for it to be built.

5. Equity Savings Plan... Money paid for rent is money that you'll never see again, but mortgage payments let you build equity, which is like contributing each month to your home savings account.

6. Value Appreciation... Statistically, between 1998 and 2002 home prices have increased at an average of 5.4% annually.  While there's no guarantee of appreciation, a 2001 study by the National Association of Realtors found that a typical homeowner has approximately $50,000 of unrealized gain in a home

7. Tax Breaks... The US Tax Code lets you deduct the interest you pay on your mortgage, and the property taxes you pay, as well as some of the costs involved in buying your home

8. Capital Gain Savings... Building equity in your home is a ready-made savings plan.  And when you sell, you can generally take up to $250,000 ($500,000 for a married couple) as gain without owing any federal income tax

9. Freedom... The home is yours.  You can decorate any way you want and be able to benefit from your investment for as long as you own the home.

10.  Stability... Remaining in one neighborhood for several years gives you a chance to participate in community activities, lets you and your family establish lasting friendships, and offers your children the benefit of a strong educational continuity.