10 Reasons To Buy A Home Now (And A Few Why Not)

Browsing real-estate coverage in cyberspace, I came across one of those compelling “10 Reasons To…” lists which aimed to get people out into the market and snapping up homes.

It was an interesting exercise in nostalgia to read this list from a reputable mortgage company because it was published in August 2006, not so very long ago, but it feels like eons in terms of how the housing market has changed.

Here, in summary, are those “10 reasons to buy a home”:

1. House prices tend to rise over time, so a house is one of the best investments you can make. (Ouch number one — that didn’t exactly pan out for everyone.)
2. You’ll pay less tax. (Aah, the confidence.)
3. You’ll be buying a piece of real property rather than putting money in a landlord’s pocket each month. (Yes, a real piece of property that may, or may, not turn into a noose around your neck.)
4. Interest rates are still historically low. (As they say, they can go up or down, up or down.)
5. You’ll be able to use the equity in your home for low-cost loans for other purposes. (Ouch, ouch — isn’t that how we all got into this mess?)
6. You’ll have the stability and emotional security of owning your own home. (Ouch ouch ouch — tell that to the stress-riddled folks facing foreclosure and years of therapy.)
7. You’ll be able to redecorate and renovate any way you like, any time you like. (Ah yes, the fun frivolous bit.)
8. You can have a garden. (Raise chickens, grow tomatoes — do something, damn it, to save those precious dollars.)
9. You’ll be able to put down roots in a community…Renters tend to live more insular lives. (Ouch — that’s a bit hard on renters. Aren’t they getting enough grief as it is?)
10. You’ll have a greater voice in community affairs. (Such as, how about a neighborhood potluck to discuss how to avoid hemorrhaging equity on our homes?)

[Photo credit: www.teamprg.com]