“Right now, is the best time in history to buy a house in America.”

Renting is a great alternative to buying except in our current economy environment. Once you pay your rent, the money is gone, spent! As a general rule, personal privacy falls to the wayside when renting. Your rent will probably not buy as much as your mortgage payments will.

On the other side, the status of our economy couldn’t be better to consider buying your own house. “Homes For Sale” inventories are high, interest rates at an all-time low, government assistance is available and sellers are anxious to sell their homes.

I feel really strong about buying your first house when you are young. At first, you may find that home ownership is a struggle but this struggle will lessen as time goes on. This assumes you will have a fixed rate mortgage and wages will increase over time). When you get to retirement, you will probably will have your home paid for which will enhance your financial position as you try to make it on your retirement income. Retirement income tends to be fixed and does not keep up with the rate of inflation (rises in costs of living).

Just keeping a roof over your head is one of the many reasons buying your first house satisfies, what’s in buying a house for you!

1. House prices have decreased considerably making a purchase for a buyer a bargain. 

2. Interest rates are low, low and, if the buyer thinks the offered rate is too high, can probably negotiate for a lower rate. This is true particularly if the buyer is looking at foreclosed property and has excellent credit plus a more than ample down payment.

3. Sellers who are looking to unload their expensive properties will be willing to negotiate with the buyer so as to shorten the sellers market time. Currently, inventories are extremely high (in otherwards, existing housing sales are almost standing still).

I reiterate, it is a buyer’s market. Maybe not for investment purposes but for purchasing your very first property to use as your residence (live in).
The one, especially, important fact to remember is that we all have to live somewhere, somehow and I happen to believe owning is now more of a bargain than renting.

Guide To Buying Your First House

How much rent do you pay? I will use $700.00/month as an example. In 10 years, you will have paid out $84,000 for rent and when you walk away, you will have nothing. Wouldn’t it be nice to walk away with some money?

The housing market has so much current opportunity. By opportunity, I mean a surplus of available for purchase homes, available money and great interest rates. This is a buyer’s market!

My advice is young people get started with home ownership while you are young. In future years, you will be able to upgrade to another house or walk away with some real money and will have provided yourself a place to live.

A realtor, I am acquainted with, has some wonderful statistics about the current housing market trends. Here is the url:
Current Market Statistics

In conclusion, first time home buyer’s take heed and get started before current conditions change! You have all the leverage, negotiating power.

You will need a great guide to assist you with your first house buying adventure: It is available by clicking here.