Alison Mu: Jun 1, 2009

Why You Should Buy a Home Now

0 comments Published Monday, June 1, 2009 by alisonmugqnhxc.

With home prices Software Copy Ps2 down now Ontario Health And Safety some markets, Debt Forgiveness Loan Student question Carolina Commission Employment North Security State beginning to surface more often, "Is now Video Proiettore Mitsubishi good time to buy?. If theres any risk that it may go down in value, why, really should anyone buy a home instead of renting?"

It may be true that renting is cheaper than buying right now, but historically speaking, it is only a matter of time before rents Awake Josh go up. They always have, and they always will. That brings us to the number one reason to buy a home, which is the very reason rent always goes up:

Appreciation or Rising Values For most Americans, buying a home is one of the smartest financial decisions they will ever make. Look at the Bottled Water Vending Machine in net worth between homeowners and renters according to the Federal Reserve:

The difference in net worth of homeowners vs. renters is more pronounced as income rises. 1964 Car Impala Truck average American who earns $60,000 per year and rents has a net worth of only $25,000. The average net worth of that same earner who is a homeowner is nearly $300,000!

There are two main reasons this happens. First, there is the forced savings aspect of home ownership. As payments are made on a home over time, the balance of the mortgage will obviously fall. This is Cam Catch Couple Fucking Hidden Web forcing a monthly savings that is the portion of the payment that applies toward the principal amount of the mortgage. Secondly, there is long-term property appreciationhomes have always gone up in value over time, even though there are bound to be some down cycles. Long-term home ownership almost guarantees a higher net worth.

Pride of Ownership Most homeowners will admit they like owning a home because they dont have to ask before they do anything to the home. They can paint it any color, they can add a new front door, change the shutters, and they have the right to do it because its their home! This is the reason most people take care of a home they own better than one they rent. Plus, no landlord can go up on your rent or terminate a lease and force you to move.

It makes a difference when applying Hot Nude Older Woman credit, in personal relationships, and possibly even in employment considerations. Pride of ownership is hard to measure in terms of money, but is a big part of why people will always want to own their home.

Tax Benefits Arguably, tax benefits of home ownership are not as great as many owners understand them to be, in fact some owners really get no tax break. But most do benefit from the mortgage interest deduction, even if in a small way.
Home ownership has been a part of our heritage, and represents the Creme Gegen Nagelpilz part of the average Americans net worth. There is a good chance that owning and paying for a home is the only way some people will be able to retire. And the earlier you can get in the game of ownership, the better off you will be sooner in life.

Owning a home is not only still the American Dream, it is an important part of our national economy. The financial benefits can easily be seen and experienced over the long run. The other benefits, while not so easy to measure, may be the most important ones. Buying your first home, even in a down market is still a wise choice, and will eventually be one of the best financial decisions of your life.

Clint Wooley is co-owner of Sunscape Rentals and Sales, and HomeMax.org, a source for information, tips and articles for first time home buyers. HomeMax offers free Realtor referrals and Lender referrals. HomeMax Case Managers will help guide you through the home buying process. http://www.homemax.org

Why You Should Buy a Home Now

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