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11-5-13 |
2013 Buyer Considerations
What? You’re Still Renting?
If you’re still renting property on an annual or seasonal basis, it’s time to rethink your strategy. There are dozens of reasons why it makes far more sense to buy property. Listed below are the top 10 reasons why you should make the commitment to buy as soon as possible.
- Appreciation – Real estate is expected to appreciate at double-digit rates over the next few years. If you own real estate, you will reap the profits from a future sale.
- The Perfect Retirement Plan – You can buy your dream home for far less money now, rather than paying too much because you waited until you retired to buy.
- Interest Rates – If you’re planning on getting a mortgage, interest rates could skyrocket. It makes more sense to buy now at some of the lowest rates in history.
- Minimal Down Payment –The down payment shouldn’t be an issue. FHA and VA programs require next to nothing down. Seller financing is also available.
- Income – If you buy now, you can generate monthly income by renting your home. Rental rates are also continuing to increase, making this option even more desirable.
- Tax Benefits – Income tax rates are expected to increase. Mortgage interest can be deducted. If you lease your property, a tax deduction is also available when you depreciate the property.
- Pride in Ownership – It always feels better to own something because it is yours. This is especially true with real estate.
- Sense of Belonging – When you own, you’re perceived differently by your neighbors because you’ve made a long-term commitment to the community just as they have.
- Sense of Accomplishment–There’s something to be said about the feeling you get when you own real estate. Owning a home is one of the pillars we build our lives around. It’s also true with your kids and even more true with your grandchildren when you’re in the twilight of your life.
- Investment Potential – The potential rate of return on real estate is far better than the rate of return on other investments, making real estate the best investment opportunity.
There you have it, 10 of the most compelling reasons why you should be jumping into real estate as soon as possible. If you already own real estate, buy more for your children!