Tag: mortgages are cheap

The mareket is heating up and now is a great time to buy. And, what's more, tomorrow will be a great time to own, because the fundamental strength of homeownership hasn't changed.

Here are 10 reasons:

1. You can get a good deal. Prices are as low as they are going to get for a while. And prices are at a level that makes sense for people's income.
2. Mortgages are cheap. At 3.75% on average for a 30-year fixed-rate mortgage, your costs to own are down.
3. You can save on taxes. When you add up the deductions for mortgage interest and others, the cost of owning can drop below renting for a comparable place.
4. Your money is not wasted on rent. The one benefit to owning that never changes is that you can paint your walls orange if you want (generally speaking; there might be some community restrictions). How many landlords will let you do that?
5. You can get a better home. In some markets, it's simply the case that the nicest places are for-sale homes and condos.
6. Home buying offers some inflation protection. Historically, appreciation over time outpaces inflation.
7. It's risk capital. If the economy picks up, you stand to benefit from that, even if you're goal is just to have a nice place to live.
8. It's forced savings. A part of your payment each month goes to equity.

Homeowner's Association or Fee Simple?

Benefits of No Association

• Absence of monthly homeowners or condo fees
• Less stringent rules and regulations
• No homeowners or condo association that can impose restrictions without your consent
• Fewer parking restrictions and fees

Homeowner Association Benefits

1. No need to save money to cover what condo fees will cover:
   1. Roof repairs/replacement
   2. Common area repairs
   3. Yard Maintenance
   4. Maintenance, paving, and plowing of the driveway, sidewalks, and curbs.
   5. Siding and gutter maintenance or repair
2. Some have controlled access
3. On site community amenities from club rooms to pools and exercise rooms
4. Maintenance of Common Areas
5. No "surprises" from neighboring "improvements"

  For more information or to set up an appointment call Julie at (703)765-0300.