10 Reasons to Buy a Home NOW!
Owning a home has been The Great American Dream for countless generations. Starting from when we were young, many of the longest running TV shows centered around “The Family Home”. So if you’re thinking of joining the ranks, here are 10 reasons for the “Plus” side:
1. Low Interest Rates. Interest rates are wicked-low! Historically low! With such rates, you’ll pay far less interest over the life of your mortgage. It also means monthly payments will be smaller, more manageable amounts. You’ll get more house for the buck.
2. Mortgage Interest Deduction: While we don’t know if this will last forever, this is a great tax advantage and means more money back in your pocket.
3. Stability: You’ll have the stability and emotional security of owning your own home. No more worrying about negligent landlords, rent increases, worries about your apartment being turned into a condo, or the building being torn down. You’ll be able to live in your house as long as you like, set your monthly payments for as long as 30 years (or longer) and you’ll be in charge of your own kingdom.
4. Affordability: In our current economic status, and in addition to the advantages of low interest rates, homes are more affordable. We still have a surplus (or inventory) of homes for sale. As home sales have started to pick up, this inventory is dwindling. But again, you get more house for the buck.
5. Selection: You can probably find several appealing houses, which means you can afford to wait and not overpay for a home you like. If you put in an offer and the seller doesn’t bite, you can always go after another house.
6. Paying Towards Ownership. Being objective, buying a home is an investment. It’s an investment in your future. Handing over a monthly payment to a landlord goes toward a return on the landlord’s investment and future profits. Making a mortgage payment very month will go toward your investment and your future profits.
7. Investment Growth: Our recession has sadly reduced the value of homes resulting in a negative appreciation for the owners. In these times, buying now at all-time lows, will surely result in steady growth. The longer you stay there, the greater the appreciation.
8. Home equity: This building of worth over time will create a value that you can tap into if the need arises. Historically home equity loan interest rates are far less than the rates on a personal loan.
9. Monthly Payments: Once your home is paid off — you won’t have monthly payments anymore. Apart from insurance, property taxes, and repairs, monthly expenses are minimal. In today’s market, many buyers are finding, as well, that their monthly house payments are less than what they’d pay in rent! After paying down your mortgage and building equity, you may have the option of refinancing your mortgage and reducing your monthly payment. Or, you can refinance to a shorter repayment period, thus saving interest payments and paying off your mortgage sooner.
10. Home Builder Incentive Offers: If you’re thinking of buying a new home, rather than a “used” home, now is a great time to start talking to builders. Builders need to meet quotas and without enough buyers lining up, they need to offer incentives.
One Reason to Buy With Me!
You only need one reason…I’m good at it. Very good at it…!
To see what I have for sale, visit my ite at: www.NormaSellsNJHomes.com