8 Great Reasons to Buy a Home

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This is a very good list of reasons to buy a home.  Every buyer thinking of making a move today should read this list of reasons why they should proceed. 

Via Jared Wangsgard (Urban Utah Homes and Estates):

 

From my post on LiveInUtah.com

Thinking about buying a home? Can’t decide what you want to to. Should you rent or should you buy? Here are seven reasons why I think you should buy a home today.

You can get a good deal

It’s a buyer’s market! And prices have come down a long way – about 30% from their peak, according to Standard & Poor’s Case-Shiller Index, which tracks home prices in 20 big cities. Will prices fall further? Probably! But keep in mind you’ll never catch the bottom! Besides, It doesn’t really matter so much in the long haul because historically, markets always rebound!

Mortgages are cheap

You can get a 30-year loan for around 4%. These are the lowest rates on record! As recently as two years ago they were around 6%. That savings in interest slashes your monthly repayment by a fifth! If inflation picks up, chances are you won’t see these mortgage rates again in your lifetime. And if we get deflation, and rates fall further, you can refinance!

You’ll save on taxes

You can deduct mortgage interest from your income taxes; you can deduct your real estate taxes. And you may be able to get a tax break on capital gains when you sell. Get with your accountant to learn how!

It’ll be yours

You can have the kitchen and bathrooms you want. You can move the walls, build an extension–zoning permitted–or paint everything bright orange. One of the best perks about buying a home is that you can do what you want to it!

You’ll get a better home

In many parts of the country it can be really hard to find a good rental. Generally speaking, if you want the best home in the best neighborhood, you’re better off buying!

Owning offers some inflation protection

Studies by Professor Karl “Chip” Case (of Case-Shiller), and others, suggest that over the long-term housing has tended to beat inflation by a couple of percentage points a year. That’s valuable inflation insurance, especially if you’re young and raising a family and thinking about the next 30 or 40 years.

It’s forced savings

If you can rent an apartment for $2,000 month instead of buying one for $2,400 a month, renting may make sense. But will you save that $400 for your future? A lot of people won’t. The part of your mortgage payment that goes to principal repayment isn’t a cost. You’re just paying yourself by building equity. As a forced monthly saving, it’s a good discipline.

There is a lot to choose from

The National Association of Realtors puts the current national inventory at around 4 million homes. That’s below last year’s peak, but well above typical levels, and enough for about a year’s worth of sales. More keeping coming onto the market, too, as the banks slowly unload their inventory of unsold properties.

 

About susanmorrison

After living in Walpole, MA for many years, our family was transferred to the west coast when I was a senior in high school. In 1983, I graduated from Mission San Jose High School in Fremont, California. I am also a 1987 graduate of Providence College with a major in liberal arts and a minor in business administration. I bring to the table many years of sales experience beginning with thirteen years in Corporate Sales at Delta Air Lines. I'm the mother of three children and I'm very active within the Franklin, MA community. I am also a cancer survivor and support the American Cancer Society Charities.

My husband and I have built five homes and I've lived in a variety of other locations including Toronto Canada, Irving Texas and my current home in Franklin, MA. As a result of all my moving around, I came to the conclusion that I was an expert at moving...why not become an expert on the other side of the table? I earned my real estate license in 2004 and believe that I have found my true niche'. I can empathize with my clients on a variety of levels; whether they are buying or selling. And, like so many other good realtors out there, I believe that possessing good communication skills is one of the many keys to success.

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