Now consider the current rental market. Where is the economic security in not knowing how much your rent will increase in the next three years? You don’t receive any tax benefits from paying rent, nor do you accumulate any price appreciation, as you would if you owned a home of your own. All of the economic fundamentals show that this is a good time to buy a home. The real risk isn’t in buying a home, it’s continuing to rent.
The best way to “play it safe” is to actually buy a home. Here’s why: studies show that owning a home is the best way to build household wealth. The sooner a person owns a home, the faster they begin to build up equity and wealth. When you buy a home, you are also purchasing price stability, knowing that you will pay the same monthly payment for the life of your 30-year, fixed-rate mortgage. Interest rates are so low you couldnt ask for a better time.
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Canopy Mortgage, LLC - Crown Point, IN
FICO Pro, Certified Military Housing Specialist
Sounds like you already have a great handle on why to buy now. How do we get others to buy into this point of view?
Dec 06, 2009 01:15 PM
Sine & Monaghan Realtors, Real Living - Grosse Pointe Farms, MI
Providing the very best of service to Sellers and
You've done a good job capsulizing the overriding reasons for buying now rather than waiting til later. Low prices coupled with outstanding interest rates on new mortgages makes NOW the time to act.
Dec 07, 2009 12:20 AM
NewFed Mortgage Corp. - Shrewsbury, MA
Mortgage Loan Originator
Great post, Heather. It's amazing how many buyers are out there waiting and waiting. Meanwhile, two years' worth of rent later, they are still waiting. Well, like I learned in sales school, if you wait for all the lights to turn green in order to get to the other side of town, you'll never make it out of your driveway!
Dec 10, 2009 12:14 PM
Rainmaker
300,730
300,730
Heather the Realtor Orlando, Lake Mary
First Time Home Buyers, Bank Owned Homes
Real Estate Resources
Recent Posts
ActiveRain Community
about 14 years ago
ActiveRain Community
about 14 years ago
ActiveRain Community
over 14 years ago
Heather Unger's blog is for those looking to gather information on Central Florida's Real Estate Market including areas such as Orlando, Lake Mary, Baldwin Park, Lake Nona, Longwood, Seminole County, Winderemere, Winter Park, Thornton Park & College Park.
In her blogs you will find information on how the current and local market is for all types of buyers and sellers from first time home buyers to the luxury real estate market, where to find the next deal in new construction and bank owned properties (REO) or how to get your home sold quickly. Better yet check out her website www.HeatherTheRealtor.com.
Here you can also find her video blog showing her recent appearances on HGTV's House Hunters and other great real estate videos, plus information on local communities and areas.
In her blogs you will find information on how the current and local market is for all types of buyers and sellers from first time home buyers to the luxury real estate market, where to find the next deal in new construction and bank owned properties (REO) or how to get your home sold quickly. Better yet check out her website www.HeatherTheRealtor.com.
Here you can also find her video blog showing her recent appearances on HGTV's House Hunters and other great real estate videos, plus information on local communities and areas.
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