I just read an article on 3 reasons not to buy a new home now. By the time I finished reading the writer must have mentioned 20 reasons not to buy a home now or ever for that matter.
The only thing I agreed with was you should only buy a new home when you can afford it. This is true with anything you purchase. You need to know the expenses there are in owning a new home.
One of the things she mentioned was its good to rent. For the most part no extra expanses. That's true, but who benefits, the landlord who owns the property. You are helping him pay his mortgage and he is building equity in his property. Just like leasing a car you make payments for 3 years, driving a new car but at the end of the 3 years you would have paid out a lot of money and you don't have a car.
So here is what I think, my own personal opinion whatever its worth. If you can afford it, buy a new home now. There are expenses in owing a new home. But the bottom line is that this home is yours.You should do it. Homes prices are low, mortgage rates are low. Now is a great time. But remember this is for the long term. You do get a $8,000 tax credit if you buy before Dec. 2009 and most people will get that credit. Plus you can get some tax deductions for interest payments. As I mentioned buying for the long term your property value will rise. You are building equity in your home not someone else.
With all the homes on the market and coming on the market because of bank owned, preforclosure and short sales, there are some great homes available. Remember good homes do not stay on the market very long. Please don't settle for a home in bad condition. I know you can find a good home at a good price
We should never loss focus of the fact owning a new home is The American Dream. Think about this, you go to school. Most go to college, you meet that special someone, get married, have a bunch of kids and live in your first dream home. There is nothing wrong with that picture. Just make sure you can afford it. And if you can not afford to buy right now save. I know you can do it.
I will help you find your Dream Home in Delray Beach, Highland Beach and Boca Raton I can help anyone buying a new home of selling there present home, please feel free to e-mail me and please check out my website www.delraybeachprimeproperties.com
