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20 Comments on Why Does a First Time Home Owner Buy a House?
What makes that first time home owner finally take the leap to buy a house?
$8,000?
Tom, You do have a point, however, they don't get that money until AFTER they buy, though many people think they can get it before they buy and use it as a down payment.
lol yea many of them do think that. but many people are getting loans from their parents and/or other family members for $8000 with the understanding that they're going to pay the money back next year. since FHA will now allow loans from family members for down payment, that might be another selling point.
John, They were always getting "loans" anyway, and FHA just had to accept it!
Excellent post Donna Harris. Great way to get folks thinking. ;)
OOH, Tom has a great point! Plus, they can't deduct the rent check on their taxes!
Greg, Thank you very much!
Kim, That is definitely another point.
Donna, the getting rid of the landlord reason is a BIG one for sure. Great list. PLUS, it is YOUR house.
Gary, It sure is! Those checks every month provide no tax advantage whatsoever!
Donna, these are all excellent reasons to buy a place! And you didn't even get to tax breaks!
Great post as always. All good reasons, that of course I will steal. Thanks
Pat, Thanks! And I didn't mention tax breaks, because that's not a "trigger", it's a bonus once they buy a house.
Terry, Not a problem, just put my name to everything! ;)
Good points Donna. I am going to have to share this with others.
Donna - I love this post. It covers the real reasons people get fed up with the rental and move to ownership. "Running from your car in the rain?" That's why people buy houses.
Donna, this is great. I would imagine most of us relate to running to our apartment in the rain. Good job!
John, Be my guest!
Matt, Thanks!
Teri, Yes, those were the worst days, especially with groceries and multiple trips.
Donna,
This is a great piece. a lot of people get tired of those same old apartment colors, and want to paint their home colors they like.
Thanks for your points
Susan, Thank you, and yes, the drab colors can make anyone go a little nuts at times!
How about the lowest interest rates in years. . You have good points. I just moved to Texas . i am enjoying everyday. Real Estate is very active in Texas
Rafeeq, I believe the interest rates are a benefit of buying. It's not something that triggers someone to want to buy right here and now. It's definitely a perk as well as the tax write offs of that rate.