Until the the real estate boom that we had here in Scottsdale and the many towns around Phoenix, of 2001-2005, people thought of homes as exactly what they are; a place to live and call home.
However, with all the water cooler stories of getting rich from the real estate ‘gold rush',
a different thought process creep into our consciousness. The primary purpose of home buying became "Investment"; not primary traditional reasons of:
- Use - as a place to live
- tax break,
- inflationary hedge
- long-term savings
- longer-term capital appreciation
Do not think, foremost, as your home as an investment. History tells us that over the "long-term' , families do create a nest egg and acquire capital appreciation. However, The key phrase to remember being "long-term".
A house should be a place to live. A place to enjoy. A place to raise a family. A place to meet friends and neighbors. A place to develop roots and community bonds. A place to call home.
Considering today's real estate market and today's prices, you can realize this important part of the American Dream if you buy with the above factors in mind.
If you buy the home you love, in the community you want, at the price you can afford, (Most importantly, the price you can afford) , all of the secondary reasons home ownership is such a foundation and important part of our culture and economic worth.
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