Many people fell prey to the economy and lost their homes. This is a time when foreclosure has been inevitable for many but after all is said and done; this is actually one of the best times for those looking to purchase their own home. While this may seem like one of the worst times for home owners, this really is the time to get into the market if you are looking to buy a home. Below is a list of the top reasons to buy a home in 2009.
1. One of the top reasons to buy a home would be that it is so much more affordable then ever. If you are to take a look at how the prices have been going over the last few years, you will find that prices on homes that are for sale are at a record low. It seems that the fall of the economy has lowered the price of houses that are on the market. This makes buying a home, something that just about anyone can do.
2. You can get large discounts for having your home custom built. This is a huge plus as generally, building your own home can cost a small fortune. Builders are offering sizable discounts if you choose to have your home custom built. They key is to get yourself pre-approved for your home loan then find a good builder.
3. Tax credits are always a plus and if you can get one when your purchase your home then that is a huge plus. This holds true for those who have not owned their own home in at least the last 3 years. The IRS will allow you a tax credit up to $7,500. Keep in mind that you may have to pay the credit back at some point but this is something to consider when you are just making the purchase.
4. Lowest Interest rate can’t be beat. When you make the choice to buy a home you have to take into consideration the amount of the mortgage. You want to be sure that you are not in over your head and what better way to do that then with a record low interest rate. This will help ensure that you have a low monthly payment to keep up with rather then one that will strain your wallet.
5. You pretty much have your pick of the lot. There are so many homes available right now that you can afford to be choosey. There are plenty of homes in just about every neighborhood to take your pick from so do not settle. Take your time, look around and be sure to get what you want.