A lot of would be home buyers are hesitant to make the leap into home ownership since the housing crisis. Even in the wake of the deflated real estate market, there are many reasons why it is a great time to buy a house.
Primarily there is the unprecedented affordability. Right now, no matter where in the country you are looking you will find better deals, lower prices, and the lowest interest rates in history. This combination means that you can afford a better home in a better neighborhood and lock it in with mortgage rates that are lower than they have ever been before.
Tax savings are another reason to become a homeowner. If you already itemize your deductions then being able to deduct real estate taxes and your mortgage interest can mean significant savings on taxes, especially over renting.
Buying a home is a great investment. Even the housing crash cannot change that fact. Most of the people that ended up upside down in their mortgage were unable to afford the payments they signed up for to begin with. Those people who could afford their monthly mortgage payment have been able to weather the storm. If you make sure that you stay within your means, it is a tried and true way to invest. It is not the stock market so you will not get rich quick, but with home prices expected to start to rise over the next few years it is a solid investment; and if the economy takes an upward turn, homeowners will see even better returns.
Inventory is high across the country. The up side to this is that you are sure to find what you are looking for. In today’s housing market you will not have to settle for a home that you like, you are sure to find one that you love in a fantastic area. Whether you are a first time buyer looking for the perfect first home or a homeowner looking to take advantage of the affordability in the market and upgrade their primary residence or purchase a second home, there has never been a better time to take the leap.
If you make a living with a real estate license, or are just looking into buying or selling a home, there is a lot of growth expected in the real estate market in the next few years. Now is not only a great time to buy a house, it is an ideal time to get a real estate license.
