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Top 10 Reasons to Buy a Home

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  1. You can get a Great Deal
    I can’t speak for the rest of the country….but here in Mammoth Lakes we have reverted back to 2001/2002 pricing!  Housing pricing is down over 50% from the highs we saw in 2005/2006.
  2. Mortgage Rates are Cheap
    Interest rates on mortgage financing are some of the lowest we’ve ever seen in history.  It is very possible that once they start to rise, you may never see rates this low again in your lifetime.
  3. You’ll Save on Income Taxes
    Mortgage interest is a deduction on income taxes.  Additionally, you can deduct your real estate taxes and get a break on capital gain when it comes time to sell down the road.
  4. It’ll be Your Own Home
    No more renting!  Paint the walls; remodel the bathrooms; change the carpet….do whatever you like…..it’ll be your home!!!
  5. Rent vs. Own
    right now rental rates are not too far off what a home may cost you each month even with your taxes and insurance included.  So why pay a landlord and get nowhere when you can have that money going towards building you equity in real estate property investment.
  6. It Offers Some Inflation Protection
    Studies suggest that over the long-term housing has a tendency to beat inflation by a couple of percentage points.
  7. It’s Risk Capital
    We all know that sooner or later the economy has to recover at some level and start to go back up.  Well when that does real estate prices will also be on the rise.  So by owning your home, you will be gaining equity in your home as the economy is rising.
  8. An easy way to Force Yourself to Save $$$
    If you are paying less in rent than you would be paying a mortgage, you will end up with extra money at the end of the month.  But will you really be putting that into your savings account and towards your future each month?  I didn’t think so.  But by putting that into a home you’re building equity for the future!
  9. Plenty to Choose From
    The National Association of Realtors announced that inventory of homes for sale in the US is approximately 4 million.  That’s way above averages meaning that you as a buyer have plenty to choose from to be sure you and your real estate professional find the right home for you at the right price!
  10. It Can Hurt to Wait
    As it always does in the cycle of economics…demand and supply will eventually meet.  Population numbers in the US are definitely not declining and the housing market will eventually work itself allowing for interest rates to rise and it to become a seller’s market once again.

 

By Eric Leach (www.EricLeach.net / cell: 949-690-5555)

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