Top 11 Reasons to Buy a Home Now!

1. Selection – Homes are available in every area and at all price

ranges. The quantity of houses on the market allows you to pick and

choose the qualities you want to find just the home you want. It

wasn’t so long ago that buyers were jumping on new listings as soon

as they came onto the market, that is no longer a concern for buyers

in this economy.

2. It’s a buyer ’s market – The best time to buy is when most

people want to sell. If you buy now you can get a lot more house for

your money, and you have a lot more negotiating power.

3. Homes are more affordable - Real estate, which was over-

priced during the housing bubble, has returned to earth. That's espe-

cially good news for first-time home buyers who were priced out of

the market 4 or 5 years ago.

4. Interest rates are low – Mortgage interest rates are at their

lowest point in the last several years. This means your mortgage pay-

ment takes you a lot farther than it did before. We’re not that far off

of the all time lows we hit several years back. It is smart to take ad-

vantage of the low mortgage rates while they are still available.

5. Tax savings – Buying a home is one of the best ways to save

money on taxes. Your mortgage interest, real estate taxes and in

many cases mortgage insurance are all tax deductible. If you are a

first time home buyer this means that after-tax, you can pay a lot less

for a mortgage payment than you pay for rent.

6. Appreciation – This might not seem like the best reason to

buy, with prices stagnating and falling in some areas, but in the long

run, home prices always move up. There is a lot of pessimism in the

real estate market today, but even the most pessimistic are bullish in

the long run.

7. Equity build up – As you pay down your mortgage you

build up equity in your home. Most people don’t even think of this

because it is so gradual, but every mortgage payment (as long as it

is an amortizing loan) pays a little less interest and a little more

principal. In a way owning a home is a form of forced savings.

8. Rising rents – Buyi ng a home means you can f i x your

mort gage payment , at l east t he pri nci pal and i nt erest port i on.

Rents are proj ected to rise this year and over time.

9. Lots of homes are Move-In Ready - In order to sell a home

in a tough buyer ’s market, sellers have to put their best foot forward.

This means sel lers wi ll paint, landscape, and do any necessary

repairs to make their homes look the best as compared to their

competition. For a buyer this means, you are getting a nice looking

home with no maintenance issues to take care of.

10. Incentives - Buying in a buyer ’s market gives the buyer the

upper hand. As a buyer, you may ask the seller to s ell you their

washing machine, refrigerator or pool table. In addition to material

things, you can ask the seller for a homeowner ’s warranty, lawn or

maid service for six months to a year, etc.

11. First Time Homebuyer Program - provides below

market interest rate mortgage loans through a network of participating

lenders to eligible families and individuals who are purchasing their

first home or who have not owned a home in the past three years.

The combination of low interest rates and decreased housing prices represents a great investment opportunity.

Servicing Travis, Williamson, Bastrop and Hays Counties