Tuesday, November 2, 2010

10 Reasons to Buy a Home Today

According to the Wall Street Journal, below are the 10 reasons to buy a home.

1. You can get a good deal. Especially if you play hardball. This is a buyer's market.
2. Mortgages are cheap. You can get a 30-year loan for around 4.3%. These are the lowest rates on record.
3. You'll save on taxes. You can deduct the mortgage interest from your income taxes. You can also deduct your real estate taxes.
4. It'll be yours. You won't need to ask a landlord for permission to paint a wall a different color. 
5. You'll get a better home.  If you want the best home in the best neighborhood, you're better off buying then renting.
6. It offers some inflation protection. Over the long-term, housing has tended to beat inflation by a couple of percentage points a year.
7. It's risk capital. Sooner or later real estate prices will head up again.
8. It's forced savings. The part of your mortgage payment that goes to principal repayment isn't a cost. You're just paying yourself by building equity.
9. There is a lot to choose from. There are currently 86 active listings in La Cañada Flintridge.
10. Sooner or later, the market will clear. Demand and supply will meet.

To read the full article click here

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