Why it’s so Good to be a First-Time Homebuyer in Today’s Market
By Grace on Dec 8, 2009 in Buyer Tips
There’s so much bad news concerning the real estate market today that the advantages of being a first-time homebuyer often get glossed over.
In fact, many would-be first-time homebuyers may be shying away from purchasing a home out of fear of the market. After all, hearing the grim news of the economy and the real estate market day after day can certainly impact your confidence level.
It is therefore important to point out that there are many reasons to purchase your first home, particularly in today’s market!
- You don’t have a house to sell. Yes, the market is still rough for individuals trying to sell their homes; but, luckily, because you are not tied down to another home or another mortgage you have one less thing to worry about.
- You can take advantage of today’s super-low mortgage rates. Mortgage rates are low - very low. In fact, most 30-year mortgage rates are flirting in the five-percent range. Now, more than ever, you can score a low interest rate, thereby enabling you to buy more for your money.
- You can get an $8,000 tax credit. Luckily, the first-time homebuyer tax credit of $8,000 has been extended to April 2010. So don’t fret if you haven’t yet taken advantage of this great tax credit, which is part of the federal stimulus plan.
- You have your share of great properties from which to choose. Because the market has yet to rebound significantly, there are still plenty of Las Colinas homes on the market. This, of course, is great news for you as a seller because the large selection of homes will allow you to find the home that is perfect for you.
- You can get the home of your dreams for less than you ever thought possible. Homes prices across the country have dropped significantly over the last year or so, thereby offering many homebuyers an extraordinary opportunity. For many homebuyers, these lower prices have allowed them to purchase a Las Colinas home that they never thought that they could afford. In other words, your dream home may be more attainable than you thought!
