Now is the Time to Buy a Home: 4 Reasons Why in Huntsville, AL
You may be wondering if this is the best time to buy a home. Spring is a busy time in general for real estate transactions and right now it's still a Seller's Market, meaning supply is low and demand is high. But the truth is, there are always excellent reasons to buy a house, regardless of market activity.
- Buying is cheaper than renting. The results of 2018 Rental Affordability Report show that homeownership remains cheaper than renting in 54% of U.S. counties analyzed. The report reveals that buying a median-priced home is more affordable than renting a three-bedroom property.
- Forced Savings. Another benefit of homeownership is that it forces you to save money. The financial commitment you make when you buy a home means that your monthly housing cost must be paid, no matter what. When you take on this responsibility, it may inspire you to be more frugal and to save more.
- Tax deductions. These are also a perk of owning a home. There are many Tax Advantages, including (but not limited to) reducing your taxable income by deducting interest paid on a home mortgage and deducting property taxes paid.
- Financial Investment. Finally, experts expect home price appreciation to slow down, but to continue. The bottom line is that buying a home now will prove to be a sound financial decision for years to come. Don't wait! Contact Mike Manosky at Huntsville Real Estate Online to find your dream home today!