There are many reasons for buying a home now; but here are eight reasons that stand out in my mind the strongest:
1. Income tax savings: You can deduct all the mortgage interest and property taxes paid through the year on your tax return. That’s a little like having the government subsidize your home purchase, since rental payments are not deductible.
2. Investment or Savings for the Future: As the loan balance gets smaller every month, the equity grows. Over the long haul, when a property is well maintained and kept up, historically values have increased. Typically, people view owning a home as one the the best financial decisions they could make.
3. Plenty of Inventory: When I checked the Multiple Listing Service only a few minutes ago, in Miami-Dade County alone, the there were a total of 40,308 condos, townhouses, and single family homes actively for sale. That is up from approximately 24,600 in June 2006 and approximately 30,000 in early October 2006. I’ll bet there’s a perfect one in the current list for you.
4. Plenty of Mortgage Money Available: With all the recent talk about the mortgage market melt-down, many people are of the opinion that little mortgage money is available. Wrong! Totally Wrong! There is plenty of real money available from real lenders for real buyers. You don’t even need to leave our office to get a mortgage that fits your needs.
5. Interest Rates Remain Low: That gives you more purchasing power – the ability to buy more for less.
6. National Economy: We still have a fundamentally strong economy, high consumer confidence and a stock market at all time highs.
7. It’s a Buyers Market: With so many properties on the market, sellers know they must be competitive. That means there are more motivated sellers. You can get the best deal for your money. Through the years, the market is full of ups and downs, and there are definately times that are better than others to buy and sell. This is truly a buyers market. Take advantage of it!
8. Security, Privacy, Freedom and Pride of Ownership: At the end of the day whether you have a condo, town house, cottage or castle it provides a roof over your head; but the psychological benefits of home ownership are astronomical. You get to make all your own decisions.
Whether you are a first time buyer, moving up, or moving down, a long time resident, or a newcomer to South Florida, looking for your primary residence or a vacation respite, I welcome the opportunity to assist you in finding your perfect property match to make your home. Let’s discuss the possibilities. Call me at 305-494-1616. Or you can e-mail me at [email protected].
Any type or size home can be your own personal castle. IT’S A GREAT TIME TO BUY!