The Top 5 Reasons to Buy a House Right Now

11-09-2011_399(49).jpgThe time to buy your first, next or vacation home has never been better than right now. There are several motivational tools floating around that encourage potential homebuyers to take advantage of the market now. The biggest part of the decision is finding the reason that makes it the right time for you. One of the largest investments of a lifetime is buying a house and it makes perfect sense to only do so at the best times. There are those times when it’s simply not a buyer’s market but that’s not the case at this point and time. In fact, there are a few reasons you should be preparing to buy a house today.


1. Interests Rates are Low

 Banks are offering the lowest interest rates of all time on home financing. The rate of interest received on a home loan greatly influences the amount of home you can afford. The lower the rate you’re approved for automatically positions you for lower payments. It’s always a primary concern of homebuyers, especially first time buyers that their mortgage rate is at a comfortable amount. Interest rates have a history of rising, rising and falling but never for a set amount of time. It’s best to prepare for a home purchase whenever rates are at a good standing.


2. A Gallery of Choices

 It’s one thing to want to buy a home but when the desire to purchase is equally accommodated by a large selection of choices, it’s the best motivation ever. There aren’t always a large number of homes on the market for sale and often times, those that are, may not be on your list of likes. The availability of homes is so great right now that there is sure to be more than enough for you to find the home of your dreams. This makes it possible to not have to settle for a home you don’t particularly favor.


3. Home Prices will Rise

There’s no denying that as the market continues on the upward trend, increase in the cost of homes is going to happen. The demand is great, interest rates are prime and every home on the list will eventually experience a jump. Therefore, it’s a great time to wage an offer on that home you’ve been watching. One quick blink, the cost could change and not necessarily in your favor.


4. Rent vs Mortgage Factor

Any renter can attest to the fact that it’s much more beneficial to pay monthly payments towards something that you will one day own. The act of investing monthly payments into a house rental is one that causes negative activity in your cash flow. Mortgage amounts are typically less than rent and the low interest rates make this payment considerably less at this time.


5. US Economy is Rising 

A Positive economy makes conditions more favorable for approvals of home loans and building projects. The healthy state of the US economy interprets that employment is steady, people are replenishing the economy by making purchases and money is less restrictive. The decision to purchase a home now is highly encouraged by the state of the US economy.

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