Even with the economy as poor as it is right now, there are still some good reasons to buy a home. For many people, owning their own place is still one of their biggest dreams. Not only is it a dream come true for many people, it is also an investment that you can make that will help provide for your future.
Right now, due to the current economy, the housing market is full of homes that are for sale. Many of them are priced to sell and are listed much lower than the market price. By taking advantage and buying right now, you will probably get a bigger deal than you had anticipated. Many people are finding that they can afford to buy a bigger home than they could afford a few years ago, even though their income may not have increased.
Another reason to buy now is that interest rates are lower right now then they have ever been before. 2 years ago the rates were averaging 6%, now they are all the way down to 4%. Some might feel that it would work to their benefit to wait a bit longer to see if the rates will drop even further, however it is recommended that you buy now and, in the event that the rates drop again, you refinance your mortgage loan. This will allow you to lock in the lower rate in the future without risking the opportunity that is in front of you today.
You can also deduct the interest on your mortgage from your Federal taxes. The money that you can save with this tax break usually is substantial. As a renter, you will not see this kind of a tax break.
Most people will say that the biggest benefit of owning their own place is that it is theirs. They no longer have to live in a plain white home that they cannot paint. They no longer have to live with the threat of being asked to move out. As a renter, even if your landlord will allow you to paint or do any remodeling, it will only benefit them, not you, if you move.
Sometimes finding a good rental place in a nice location can be difficult. When you own the property, you can live happily knowing that you have found a long term answer to where you คอนโด are going to live. You will not have to worry about moving until you are ready to.
As banks foreclose or are unable to sell the homes they have, the list of available properties continues to grow. For this reason, right now it is a buyer's market. Any buyer will have there choice of nearly any home that they want available to them.
There are a lot of reasons to buy a home, this is only a brief summary of a few of those reasons. Now is the time to take advantage because eventually the economy will become stable and these opportunities will no longer exist. Owning a house can be a very favorable experience.
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