Raleigh - Cary Home Reviews & Market News!: Why Financial Experts and Realtors think you should Buy a House - Now

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Why Financial Experts and Realtors think you should Buy a House - Now

10 Reasons You Should Buy a House Now!

You see the commercials, read the newspapers, and hear what people around you are saying.  Now is a better time than ever to buy a house.  Some of us have been hearing this and maybe saying this for a while now.  So what makes 2010 - 2011 a better time than ever to buy a house?

Money House

Here is an excerpt from the Wall Street Journal's September 2010 article "10 Reasons to Buy a Home" along with some *comments from me.

1.You can get a good deal.Prices are down 30 percent on average. They're at a level that makes sense for people's income.  *Every area is different so check with your local Realtor® for pricing.  In my area, many homes are priced right.  However, there are some still priced to high.  It varies area to area and neighborhood to neighborhood.


2. Mortgages are cheap.At 4.3 percent on average for a 30-year fixed-rate mortgage, your costs to own are down by a fifth from two years ago. *Rates Vary so always get current pricing from a qualified lender.  Your Realtor® can refer you to a qualified mortgage lender.  For those of you considering your first home, you should know rates are historically low.  Many of your parents and grandparents saw interest rates in the mid - high teens.  Who knows what they'll be for your children. 


3. You can save on taxes.When you add up the deductions for mortgage interest and others, the cost of owning can drop below renting for a comparable place. *You can discuss this with your accountant.  For many people, they have saved through home-ownership.  There are other savings such as not having to move all the time.


4. It'll be yours. The one benefit to owning that never changes is that you can paint your walls orange if you want (generally speaking; there might be some community restrictions). How many landlords will let you do that? *You can the shots in many cases. Want a fence for your pet? Tired of boxing things up? Tired of buying things such as curtains for an apartment that might not fix in the next space?


5. You can get a better home. In some markets, it's simply the case that the nicest places are for-sale homes and condos. *It's a great time to move-up to your dream home.  Perhaps there's something you've always wanted in your home but couldn't afford.  If you have a property to sell, you may lose but, the hopes are to gain in the one you purchase. Think about what you need such as an additional bedroom, bathroom or larger kitchen.  Maybe a 1st floor master if you're getting older or a 1st floor bedroom for aging parents.  Do you want a larger yard or a home with the bells and whistles? Is there a different area you'd like to move to?  The reasons could be endless.


6. It offers some inflation protection. Historically, appreciation over time outpaces inflation. *It seems there's no where to go but, up in many areas.


7. It's risk capital. If the economy picks up, you stand to benefit from that, even if you're goal is just to have a nice place to live. *Hopefully your investment will grow and you'll enjoy your beautiful home.


8. It's forced savings. A part of your payment each month goes to equity. *How much equity do you get back when renting?  Usually - none.


9. There is a lot to choose from.There are some 4 million homes available today, about a year's supply. Now's the time to find something you like and get it.  *It's better to buy when you can be choosy than when you are in a time crunch and have to settle.  Keep in mind, the sky isn't the limit unless moeny is no object. 


10. Sooner or later the market will clear. The U.S. is expected to grow by another 100 million people in 40 years. They have to live somewhere. Demand will eventually outpace supply. *We're seeing fewer and fewer new homes.

I'm sure there are many other wonderful reasons to Buy a Home now.  Investors are out looking for those good deals - shouldn't you be?

Raleigh Cary Apex Realtor Carla Freund Realty

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Comment balloon 5 commentsCarla Freund • November 15 2010 06:24AM

Comments

Great Message, Carla. Thank you for sharing.

Cheers

Nor Yeretsian

Posted by Nor Yeretsian, Envoy Capitol Realty Inc., Brokerage Toronto (Envoy Capitol Realty Inc.) almost 8 years ago

Nor - Thanks for commenting.  Have a wonderful day!

Posted by Carla Freund, Raleigh - Cary Triangle Real Estate 919-602-8489 (Keller Williams Preferred Realty) almost 8 years ago

Carla, it is a great time to buy a home. I''ve heard people say they can't because they won't make enough on the sale of their home. A break even or a loss on the sale of a home is alright if they are making up for it on the purchase of a new home.  We just did that.

Posted by Jen Bowman, Realtor - Anna Maria Island & Bradenton FL (Keller Williams on the Water) almost 8 years ago

It truly is a wonderful time to buy a home. Thanks for this excellent post! - David

Posted by David Burrows, No Pressure, Just Seriously Devoted to Real Estate (Classic Realty) almost 8 years ago

Jan - Yes, I agree.  It's just hard for some people to see the forest for the trees.

David - Thank you.  Have a wonderful day.

Posted by Carla Freund, Raleigh - Cary Triangle Real Estate 919-602-8489 (Keller Williams Preferred Realty) almost 8 years ago

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