- NOW IS THE BEST TIME EVER TO BUY A PROPERTY IN FLORIDA. Many homes in move-in condition and fixer-uppers are now very affordable and may be less expensive than renting, even leaving comparable dollars over for a maintenance reserve fund
- Interest rates are still low. For a few extra dollars a month on a 30-year mortgage a first-time buyer could own the house free and clear within 15-20 years, saving interest payments.
- A 1% rise in interest rates will add several hundred dollars per year to even a moderately-priced home so now is the time to take advantage of these low low rates.
- The trend upwards in home market value has already begun in some markets and will begin in others as the foreclosures and short sales are sold.
- First--time buyers incomes will increase over time, their house payment will remain stable, and will be appreciating in the future.
- Paying rent may be buying your landlord a house – why not buy your own house?
- How long do you anticipate living in a house you buy… if interest rates DO dip short term, by the time you sell the property the home market value may have appreciated.
- Rents can rise.
Friday, August 06, 2010
SHOULD YOU BUY INSTEAD OF RENTING?
To find out how much house you can afford, get a mortgage pre-approval. We can recommend lenders to you.
Posted by Marilyn Farber Jacobs at Friday, August 06, 2010