 When is the best time
to buy?
Here are some frequently cited reasons for buying a house:
- You need a tax break. The mortgage
interest deduction can make home ownership very appealing.
- You are not counting on price appreciation
in the short term.
- You can afford the monthly payments.
- You plan to stay in the house long
enough for the appreciation to cover your transaction costs.
The costs of buying and selling a home include real estate commissions,
lender fees and closing costs that can amount to more than 10
percent of the sales price.
- You prefer to be an owner rather than
a renter.
- You can handle the maintenance expenses
and headaches.
- You are not greatly concerned by dips
in home values.
|
