The prices of homes today are as low as they were in the year 2002. Despite this reality, close to 90% of homeowners would still purchase the home that they are currently living in, this according to a poll that was conducted not too long ago. Don’t you think it’s your time to join the property ladder?
This season, with home prices at an all time low, the markets have began to slow down, with many people a little nervous about the economy and market, this creates the perfect opportunity for a keen buyer to come in and purchase something for a bargain. Here are just five of many reasons why you should consider purchasing your home today:
1. Home prices are at an all time low. Prices have decreased further this year, with a drop of close to 3% between February 2010 and February 2011. This creates an opportunity for you to find that bargain home. Do you feel that home prices will continue fall? Then do the math to calculate how much money you are potentially throwing away on rental.
2. Interest rates are low. That makes things more affordable. The affordability of housing has been at record levels and we have witnessed an improvement in the economy.
Because the economy is growing positively, this could translate into higher mortgage rates sometime in the future. With the rates at such a low, it means you will spend less and have lower monthly payments on your interest.
3. Over 70% of American homeowners say that they would recommend to a friend or family member to purchase a new home; in this current economy, just after one of the biggest housing crisis in the country’s history? Yes!
4. Ownership of a home is a long term asset; purchasing a home yields a higher return on investment than saving your money in banks or investing in stocks.
5. Having your own home is much more than just having an asset. The homeowner has more love for their home than those who are renting an accommodation. The money is one part of it, but the sense of warmth and security that we get from owning our own home is another part.
It’s of little surprise that close to 90% of homeowners given the opportunity would purchase their home again, and it’s also not surprising that 58% of those who experienced the housing crisis would still go out there and purchase a home again.
Author Resource:-
Ike Ani has been writing articles online for many years now. For additional information on real estate, which may include answers to specific questions that you likely want answers to, along with practical advice on how to get into the industry, you should visit his latest site home building construction as well as Property Search Agents.
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