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7 Reasons You Should Buy a Home Now

submitted on June 14, 2011 by pablos17 in "Member's Lounge"
I know that I've never been happier with my living situation since I decided to buy a home and stop renting. I now have more privacy and don't have to worry about paying on a mortgage for someone else.

1. Renting isn’t such a great deal.
2. The worst of the price declines is likely over.
3. Mortgage rates are at historic lows.
4. Mortgages for pricey homes are heading higher.
5. Qualifying for a mortgage is likely to get harder, not easier.
6. Scary national statistics are especially deceptive right now.
7. Less competition.

Read more:

  • 116496
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    Posted by orangearrows on June 14, 2011
    [reply] 2 0
    About #2 - they said that last year too - that it was scraping bottom.
  • 116516
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    Posted by CouponNut on June 14, 2011
    [reply] 1 0
    The banks are sitting on thousands of foreclosed properties waiting for the market to bounce back. Statistics show it won't be until 2012 or later before that happens. Lucky for me, I own my childhood home. Smile
  • 116553
    Posted by YanBz on June 14, 2011
    [reply] 2 0
    Does anyone want to buy my home? Amused
    • mooncow728
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      Posted by mooncow728 on June 14, 2011
      [reply] 2 0
      Yeah exactly!!! We've been renting the same house for the last 5 years with each year planning to buy but it never works out. This place was just supposed to be a cheap house to help us save. I would love to buy a home now! Anyone gonna help me with that? Amused
    • 116558
    • YanBz
      Posted by YanBz on June 14, 2011
      [reply] 2 0
      What exactly stops you from buying? There should be plenty of distressed sales on the market right now. If you have time or money for a bit of fixing up you can score a really good deal... so I've been told
    • 116569
    • mooncow728
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      Posted by mooncow728 on June 15, 2011 [reply] 0 0
      Every time we get our down payment to a decent amount we end up having to spend it. This time around I'm trying to put more into our savings before the down payment so it doesn't happen again. Hopefully it will work out next year.

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