3 Reasons to Buy a Home Today

Jan 16th 2011

Posted By: Liz Loadholt @ 2:50pm In: Real Estate Industry News
Tags: mama liz, agentowned realty, 3 reasons to buy a home today, home ownership, home prices, interest rates

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With the slow down in the economy, many folks seem to be afraid of purchasing a home today.

Do you have friends telling you that the prices are still coming down, so you should wait?

Do you have friends telling you that real estate is no longer a good investment?

Interest rate chart

So, why should I buy now rather than waiting?

1) Interest rates are on the rise --

While the prices of homes may not have bottomed out, interest rates are on the rise. If you wait for the prices to go down, but the interest rate keeps going up, you are not making any progress.

Take a look at the charts here (obtained from the KCM blog). As you can see from the chart on the right, rates are on the rise -- and then you can see from the chart below what impact the interest rate has on your monthly cost for a loan.

Impact of interest rates chart

If you are waiting for the prices of homes to fall, take a second look at what the increase in interest rate will do your monthly cost.

You will want to speak with a mortgage professional before you make a final decision as to the cost to you for purchasing a home.

2) Prices for home are extremely low.

Remember the old saying that one "should buy low and sell high"

3) Your real reason for buying a home.

The Fannie Mae National Housing Survey shows that the four major reasons people buy a home have nothing to do with money:

A good place to raise children and for them to get a good education
A place where you and your family feel safe
More space for you and your family
Control of the space

Liz Loadholt
Co-Founder
The AgentOwned Realty Co.
824 Johnnie Dodds Blvd.
Mt Pleasant, SC 29464
843-608-8488 Google Voice
843-725-6040 Fax
Liz@AgentOwnedRealty.com