Here are the Reasons to Buy A House -1st Time Home Buyers
* The interest rates can't get much lower. The lower the rate the more house you can buy. Your payment will fit your budget and you will pay less interest to your mortgage company.
* You can, at this point, still deduct all of the interest and the property taxes that you paid on a yearly basis.
* No worries about having to move because your landlord is in foreclosure or worry about every nail hole you put in the wall. Losing a deposit and moving every year??
* Do you want to pay off your landlord's mortgage? Each month you are one payment closer to owning your own home. It's a forced savings account.
*Unlike buying a car your home will appreciate. At this time it's about 6% depending on the area.
*Equity will allow you to take out money to college for the kids, a remodel or whatever you choose to do. Use this money wisely. You home is not an ATM machine
*If you stay in your home long enough it will give your children memories and a place to come back and visit to recapture their childhood. It's nice to have roots
* Rent payments sometimes exceed mortgage payments with nothing to show for it.
* Eventually your home will be paid off. With the exception of insurance and taxes, that mortgage payment can go towards all the fun things in life.
This is simply the best time to buy your home. When prices and interest rates start going up, as they are now, it will be too late to take advantage of the current market. Waiting for it to hit bottom...how will you know when that will be? By the time you figure it out, the bottom will have come and gone because you waited too long.