The Top Five Reasons to Purchase your First Home

Did you know that this is a great time to become a first-time home buyer? It’s true!

If your friends, family and the media have all convinced you that the poor economy and the tough housing market are not in your favor, then think again! Now may be the time to begin educating yourself on the advantages of becoming a first-time home buyer in today’s economy:

1. Interest rates are at near-historic lows, which mean that you can get more home for your money. For many homebuyers, low interest rates can lower their mortgage payment by hundreds of dollars each month, or they can afford to purchase a more expensive Coppell property. Low interest rates also mean that a home purchase is feasible, unlike just a few years ago when inflated home prices kept many potential buyers out of the market.
2. Federal Housing tax credits for new homebuyers could mean that you can receive as much as $8,000 from the federal government just by purchasing your first home. This tax credit is not limited to new buyers, either. If it has been more than three years since you purchased a home, you may also be eligible for this incentive.
3. The real estate market is flooded with fantastic, Coppell homes. Because we are still in the midst of a buyer’s market, you will likely have a great selection of homes from which to choose. This may be the time for you to find the perfect home!
4. There are many homeowners who are looking to sell their homes, often below the appraised value. The abundance of homes on the market means that there are many anxious homeowners willing to drop the home price or accept lower offers.
5. A home is a great investment. Although home values across the nation have seen a sharp decline over the past few years, a home is still considered an excellent investment. The interest paid on your mortgage is also generally tax deductible, thereby providing additional benefits at year’s end.