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3 Reasons to Buy a Home Today

Posted By: Liz Loadholt In: Real Estate Industry News
Date: Sun, Jan 16th 2011 2:50 pm

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

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