Three Reasons Why You Should Purchase a Home in 2012Jan 9 2012
With all the news about record-low rates recently, you may be contemplating if now is the time to plunge into home ownership. But maybe you’re a bit hesitant about entering the housing market with all this uncertainty about when home prices will rise, wondering if owning a home is a good investment. Well in actuality, the low home prices we’ve experienced make it the perfect time to buy a home! Here’s why:
1. Buying a home now will give you appreciation in the future. With mortgage rates being so low and home prices at rock bottom, you could buy the home of your dream for cheap. And since the housing market works in cycles, we’ll see home prices rise in the coming years, making your profit sky rocket if you decide to sell once the market rebounds.
2. There’s been a new trend forming in the housing industry recently: borrowers putting more money into their monthly payments. By doing this, homeowners are able to build equity quickly, locking in lower rates than available before, while shortening the length of their loan. Thus, they own their home faster, but paid less for it!
3. Still not convinced? Did you know that the IRS also provides full tax property tax deduction on your first home or a vacation home, which makes owning a home an even cheaper expense than you might have originally thought.
In conclusion, these near record-low rates and low home prices make 2012 a perfect time to purchase a home. And with Guaranteed Rate’s various loan options, you not only leave with a lower rate, but with a loan that will be customized for you! Start your application now!