Despite all the ‘doom and gloom’ being circulated in the media with regards to the mortgage markets and the overall real estate market, now is actually the time to take advantage of the combination of low interest rates and decreased housing prices. These factors and many others represent a great investment opportunity to buy a home in Austin.

The following are the Top 10 Reasons you should buy 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 overpriced during the housing bubble, has returned to earth. That’s especially good news for first-time home buyers who were priced out of the market four or five years ago.

4. Interest rates are low
Mortgage interest rates are at their lowest point in the last several years. This means your mortgage payment 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 advantage 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 more 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. Rents are rising
Buying a home means you can fix your mortgage payment, at least the principal and interest portion. Rents are projected to rise this year and over time.

9. A lot 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 sellers will 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 convey their washing machine, refrigerator, or pool table with the home. 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.

Take a look at homes on the market by starting your search of available homes today!  You can search by Map, by School District, by Address or Subdivision…practically any way you want!

As always, we hope you Let Us Show You the Fine Art of Austin Real Estate.  Let one of our experienced, trained professionals at The RealtyPro Team assist you with your next real estate transaction. We’d be honored to be of service. Visit us online at www.TheRealtyProTeam.com  or give us a call at 512-402-9800 today.

 

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Start your search of available homes in Austin Texas today! You can search by Map, by School District, by Address or Subdivision…practically any way you want!

Search homes on the market in Austin Texas on your mobile phone! Get full info, photos, or even schedule a showing today!

As always, we hope you Let Us Show You the Fine Art of Austin Real Estate. Let one of our experienced, trained professionals at The RealtyPro Team assist you with your next real estate transaction. We’d be honored to be of service. Visit us online at www.FineAustinLiving.com or give us a call at 512-402-9800 today.

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