Many of my Buyers are looking at me these days and asking the same question over and over again. Is this a good time to buy? Well sure any time is a good time to buy real estate in any market. Right now prices in
Pride of Ownership – I think there would be nothing more frustrating and annoying to redo the hardwood floors in your home – then have your landlord tell you that it is going on the market next week. Not only will you have to find a new place to live – you will also have to redo the wood floors in another place. If you own your own home, the renos you do are your decision, taste, and style. You can also take pride in the fact that your home looks good.
Appreciation – it is helpful to know that all market are cyclical. We have been in an up market for a long time here in
Mortgage Interest Deductions – with the recent elections came promises of more tax breaks, but if you are like me you spend a lot of time trying to figure out more ways to give less money to the government every year. The interest payments on your mortgage are tax deductible if you are a small business working from home. So while paying for a place to live you have also found a bit of a tax shelter for your hard earned dollars.
Mortgage Reductions Builds Equity – if you are a first time home buyer and have just bought a house in this market, then you are also paying mortgage payments. Once you sell your home besides the appreciation on the home, there is also the built up equity in your home – it’s all yours!