8 Reasons Why Buying a Home or Condo is Good for You

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.

Are you ready to buy a home?

All across {Location_Name}, people are looking to a buy home - either now or in the future. Over the last few years, lower interest rates have come along, making it more affordable than ever to buy a home. In order to buy a house, you’ll need to start saving your money and have enough for the closing costs and a down payment. Check out our Closing Cost Estimator and talk to an agent to get an idea of what you need to have on hand to make your home purchase. In most cases, the closing costs will run you around 5% of the property price. Before you purchase the home, you should always get an estimate. An estimate won’t be the exact price, although it will be really close. You should always plan to save up a bit more money than you need, just to be on the safe side. It’s always best to have more than enough than not enough. You’ll know your ready to buy a home when you know exactly how much you can afford, and you’re willing to stick with your plan. When you buy a home and get your monthly mortgage payment, it shouldn’t be any more than 25% of your total monthly income. Although there are lenders out there who will say that you can afford to pay more, you should never let them talk you into doing so - but stick to your budget instead. Email Nesbitt Realty to learn more about  your options in {Location_Name}. Read more about buying now For more information or to set up an appointment call Julie at (703)765-0300.