are many factors that go into your decision to purchase a home. Consider some
of these major issues that will make homeownership a valuable and rewarding
- If you're paying rent, you
could be earning equity in own home. With the tax advantages of mortgage deductions,
up to 1/3 of your mortgage payment may be returned to you in the form of lower
tax payments. For instance, paying $1800 a month in rent can be equivalent
to a $2700 monthly mortgage payment with the tax benefits. See a tax accountant
for further details.
- Are you ready? Talk to a mortgage
broker to see what your purchasing power really is. Find out what financial
options are available to you before deciding if the market is or isn't going
to work for you.
- How long will you be in the
area? Generally, if you know you will be living in the same house for 3 or
more years, it's worth making the investment.
- Is it possible to get into
this market? Now is a great time to be a buyer. Many sellers are now offering
flexible terms and/or to pay closing costs on the sale of their homes.
- If what you're looking for
isn't available right now, it may come on the market in the next few months.
Let your realtor track the market for you and send you email updates of newly
listed properties that meet your criteria.
- It doesn't hurt to ask. See
if the available home solutions fit your financial situation. You may be pleasantly
- Don't let today's buyer's market
be yesterday's missed opportunity