It really is a great time to buy a home. Why??
Here are 6 reasons why now is the time to buy a new home in our area:
1.) There is a great inventory of homes for sale right now – the selection is fantastic. There are many great opportunities. You can search homes for sale on my website: Search homes for sale in West Chester and Liberty Township.
2.) Interest rates are terrific right now. As of today (10/23/08) a thirty year fixed rate mortgage is 5.80% with no points. How low is this? Consider that 18 months ago the rate was 6.49% with no points. Keep in mind though, rates will not stay this low forever.
3.) Owning a home is one of the best ways to build wealth. When you are buying a home you are building equity and adding to your assets.
4.) Tax breaks. Owning a home provides great tax benefits including deductible items such as mortgage interest (both on your first and second), PMI or private mortgage insurance, and real estate property taxes. Be sure to check with your tax professional.
5.) If you are a first time home buyer you can take advantage of the first time homebuyer tax credit. You can read more regarding this terrific opportunity in this recent post on my blog. First time home buyer credit for West Chester and Liberty Township homebuyers
6.) You can’t time the market. You will never know when home prices have hit bottom until sales and prices have begun to increase. Buying a home now ensures a good price and good rate AND a piece of the market before our next major upturn. It is a buyer’s market now.
Are you a first time home buyer looking for more information on buying a home? I am happy to help!
Are you a current homeowner thinking of moving up to a larger or newer home? Email me for more information on our Guaranteed Sale Program.