As many people have said over a long period of time... "They are not making any more real estate". That is an excellent reason to buy real estate, but there are many, many more.....
Here are easily the 5 most powerful reasons why someone should buy a home, especially in 2014!
- You May Wait a Long Time to See Rates This Good Again Rates are at an all time low. Waiting to buy a home may cost you much more than what locking in on an interest rate today can save you.
- Renting Deprives You of Big Tax Breaks Home ownership is one of the last remaining tax shelters. Homeowners are able to deduct mortgage interest and real estate taxes on their annual tax return. If you rent, you’ll get no tax breaks whatsoever.
- You Need to Start Small to Trade Up You may feel that there will be plenty of time to get into the housing market when you feel financially secure. The problem is, you’ll probably need the profit you’ll make by selling your “starter” house to be able to afford the one that you’ll want in the future.
- Your Future is Going to be Expensive Financial experts generally suggest that to retire, you’ll need to build up enough in savings and investments to generate yearly income of 70 percent of your preretirement income. That’s a tall order – and a reason to start amassing some serious capital soon.
- Retirement The best plan for retirement is to have a plan for NO monthly housing expense. In 30 years you can be mortgage free!
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