10 Reasons You Should Buy a Home Now!

When is the best time to buy a house? It is a question that many people ask themselves from time to time. Are the housing prices right? Are the mortgage rates low enough? Well MSN has reported that NOW is the best time to buy a house, and here are 10 reasons why!


1. You can get a good deal- It is a buyers market and if you play hardball, you can pick up a house at a bargain price. Since the tax credits on purchases have expired, we have seen a decrease in the number of buyers.


2. Mortgages are cheap- You can get a 30 year home loan for about 4.3% right now, and these are the lowest rates on record. If inflation picks up, you will not see these mortgage rates again. And if we see deflation and the rates drop further, you can always refinance.


3. You'll save on taxes- You can deduct mortgage interest from your income taxes. You can also deduct your real-estate taxes and a tax break on capital gains- if any- when you sell your home.


4. It'll be yours!- When you own, you can make your home however you would like it! You can paint the walls, re-do the kitchen, upgrade the bathrooms, whatever you want! You also feel better knowing you own the home you live in. Any upgrade you do will only increase the value of your home when re-selling.


5. You'll get a better home- In many parts of the country, it is hard to find a good rental. Landlords don't necessarily keep the house/condo modern and clean if they are renting. When owning, you tend to take better care of your home.

6. It offers some inflation protection- Although housing can't totally protect you from inflation, studies show that over the long term, housing has tended to beat inflation by a couple of inflation points a year. That's valuable inflation insurance, especially if you are young, raising a family and thinking about the next 30 to 40 years.


7. It's risk capital- Your home isn't the stock market and it should not be viewed as a way to get rich, but if the economy does surprise us all and start booming, sooner or later real-estate prices will go up again, too.


8. It's forced savings- If you can rent an apartment for $2,000 a month instead of buying for $2,400 a month, renting might make sense. But will you save that $400 for the future? Most people won't. You have to do the math, but the part of your mortgage payment that goes to principal repayment isn't a cost. You are just paying yourself by building equity. As a forced monthly savings, its a good discipline.


9. There's a lot to choose from- There are a ton of homes on the market right now, the National Association of Realtors puts the number of available homes at around 4 million. That is below last years peak but well above the typical levels. More homes continue to come onto the market as the banks slowly unload their inventory of unsold properties. This means great choice as well as great prices.


10. Sooner or later the market will clear- Eventually, demand and supply will meet. The U.S. population is forecast to grow by over 100 million people over the next 40 years. That means maybe 40 million new households looking for homes. Meanwhile, this housing glut will work itself out. Many of the homes will be bought, but many more will simply be destroyed.


So, if you are considering purchasing a house, look over these reasons why now is the time to buy. And when you do buy, call CRS to help you move!