Top 10 Reasons: Why You Should Buy a Home Now

Do you have mixed feelings about buying a home right now? Take a look at these 10 reasons why you should consider buying a home now.

House prices tend to rise over time, so a house is one of the best investments you can make. We’re four to five years into the biggest housing bust in modern history. And prices have come down a long way– about 30% to 50% (certain areas) from their peak. Home prices in the U.S have risen 3% to 6% a year for the past 20 years and that trend is likely to continue. If you buy a home now, you’ve put your capital in a safe long term investment where it’s likely to grow.
You’ll pay less taxes and save money. You can deduct the interest you pay on your mortgage from your taxable income. New homeowners with new home loans tend to get the greatest tax benefit. The newer the mortgage the higher the interest payment each month which means a bigger tax break. Real estate taxes are deductible providing great benefits to the homeowner. Some homeowners may find that owning a home costs substantially less than renting a home.
Sell your home when you please. Sell your home and not pay capital gains tax. After selling you can upgrade into a larger home
The home will be yours. Do what you want with the home. Paint it purple, have black carpet, punch a hole in the wall. These types of changes are often impossible when renting but when you own a home you can design as you please
Interest rates are currently so low. This means that home loans are currently extremely cheap! In some areas your mortgage payment could be less than your rent!
You’ll have the peace of mind of owning your own home. No more worrying about crazy landlords or rent increases. You’ll be able to live in your home for as long as you like, and have a fixed payment each month for 30 years! No more surprises!
It’s forced savings. A portion of your payment each month will go to the principal of the loan. Which shouldn’t be considered a cost but a savings plan. You’re just paying yourself by building equity. Which will be extremely useful when you’re ready to retire.
Pride of ownership. Owning your own home gives a person and their family a sense of security and stability.
Have as many pets as you want. Love your pets? Homeowners can relax and enjoy their pets without worrying about landlords!
It’s a buyers market. No need for you to settle for anything less than the house of your dreams.