Five Reason's To Buy A New Home Now!
If you've been waiting for home prices or interest rates to fall further before you buy a home, it's time to rethink your strategy. If you act soon, you'll be able to take advantage of historically low prices and interest rates that won't be around forever. And if you're a first-time buyer and you act very SOON, you can still take advantage of the TAX CREDIT. Here are five reasons to take the plunge now.
1. You may get a fat tax credit.
The first-time homebuyer's tax credit is in most cases worth 10% of the home's purchase price..
2. Prices are scraping bottom.
It's hard to know whether prices are as low as they'll go, but the housing market is showing signs of life.
3. Foreclosures are at record highs.
Buyers think foreclosures are a great deal until they see them in person and realize that often, they need a lot of work.
4. Rates are cheap.
If there's a silver lining to the recession, it's that interest rates will stay low. If you can qualify for a mortgage on the home you want at today's rate, holding out for a slightly lower rate is probably a fool's errand. And, if inflation resurges, locking in today's interest rate (and mortgage payment) will look brilliant in hindsight.
5. Demand is growing
In some areas, competition for deals can be fierce. A good new home at a good price will get multiple offers and sell quickly. What's a good house? It's new, clean, it shows well, and it's in a good neighborhood in a good school district.
1. You may get a fat tax credit.
The first-time homebuyer's tax credit is in most cases worth 10% of the home's purchase price..
2. Prices are scraping bottom.
It's hard to know whether prices are as low as they'll go, but the housing market is showing signs of life.
3. Foreclosures are at record highs.
Buyers think foreclosures are a great deal until they see them in person and realize that often, they need a lot of work.
4. Rates are cheap.
If there's a silver lining to the recession, it's that interest rates will stay low. If you can qualify for a mortgage on the home you want at today's rate, holding out for a slightly lower rate is probably a fool's errand. And, if inflation resurges, locking in today's interest rate (and mortgage payment) will look brilliant in hindsight.
5. Demand is growing
In some areas, competition for deals can be fierce. A good new home at a good price will get multiple offers and sell quickly. What's a good house? It's new, clean, it shows well, and it's in a good neighborhood in a good school district.
