5 Reasons to Buy

Now is as good a time as ever to purchase a new home.  At the same time, we understand that with all the real estate and interest rate talk out there, things can get confusing.  When there’s confusion, there’s apprehension.  We thought we’d keep it simple and lay some things out for you.  The bottom line is that everyone needs a place to sleep at night and you can either rent a place or you can buy a place, right?  If you think you think you will qualify for financing, but are still a little scared, here are a few simple reasons to purchase a home: 

Reason #1:  You’ll pay less tax.  Did you know that when you own a home you can deduct the interest you pay on your mortgage from your taxable income? The value of the tax break depends on the amount of your mortgage, your interest rate, and your income.  As a general rule, the newer the mortgage, the greater the amount of interest you pay each month and the bigger the tax break. Therefore, recent buyers with young mortgages tend to get the greatest benefit. 

Reason #2:  You’ll be buying a piece of real property rather than putting money in a landlord’s pocket each month.  Renting is something that is probably necessary for all of us for a period of time, some longer than others.  For those of you that can afford a home, but continue to rent, think about the opportunity cost.  The money spent on renting (which goes straight to the landlord and will never be in your hands again) could be spent on building equity in something that is yours.  When you own a home and it comes time to move, you recoup some of the money you put into it through the sale.  There’s no such thing when you rent. 

Reason #3:  Interest rates are still historically low.  As of September 21, a 30 year fixed rate mortgage was at 4.5%.  That’s a low interest rate!  The lower the interest rate, the less you actually pay for your house and the sooner you can pay the mortgage off. Check out this loan calculator to help you with estimates on monthly payments. 

Reason #4:  You’ll have the stability and emotional security of owning your own home.  Remember when your lease was coming to an end and your landlord let you know about the rent increase to renew?  Ouch!  What about when you had 4 months to go on your lease but there was a for sale sign in your front yard?  Not when you own a home.  No more worrying about dictatorial or negligent landlords or rent increases.  You’re calling the shots now. 

Reason #5:  It’s YOUR home!  You can decorate, remodel, re-carpet, paint, and change anything and everything you like.  It’s completely your call!  Have some fun! 

These are just a few reasons why you shouldn’t be afraid of owning a home.  Of course, it’s a huge responsibility and requires work, but your work pays off when it’s your home.  We have different models in different locations throughout Arkansas, Oklahoma, Missouri, and Kansas.  We have managers and sales people ready to walk you though the home that can be yours.  Get in touch with us today!