Charlie Ragonesi Big Canoe Realestate's Blog

Is Now the Time to Buy? Better question, Why Buy at all !?

I cannot tell you how many blogs I have read or how many times I have answered the question, Is it a good time to buy? The question is it a good time to buy is very subjective. It requires an opinion of the market, thoughts on where it is going, and the financial as well as emotional state of the buyer. So lets ask a different question. Why buy at all ?

A recent survey by NAR showed that home owners versus rentors were more likely to be committed to neighborhoods. They were happier in their homes than renters. Home owners tended to vote in larger numbers than renters. In addition they were generally more satisfied with the quality of their life.

More than quality of life issues are , according to a Federal Reserve study,  the economic issues. Home Owners net worth averaged  200,000 while renters averaged 5,000.  This is am amazing number. So amazing in fact that I think an example is needed. The Young Family is renting. Mr Young and Mrs Young have 2 children and both work. They have about $7,000 in the bank. They own cars so their net worth is some where around $30,000. The Young's want to buy a home. They purchase a home for $125,000. They got a great deal in this market and the home is worth $150,000. Now the Young's net worth is $180,000 ! Just like that! In addition the Young's get a tax break on their mortgage interest. Mrs Young used the kitchen table for her home business and can now right off the spare room in the new home as an office !

Granted the Youngs are not $180,000 liquid. However they are well n their way to achieving financial security. They did this by trading a rent payment for a mortgage payment. In many cases the payments were within 100 dollars of each other on a monthly basis.

So the question of, "Is now a good time to buy?" is important but a better question is, Why buy at all ? The answer is in this post

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Charlie Ragonesi All Mountain Realty Big Canoe and Mountain Blog

On line at www.allmountainrealty.com Call at 706 579 1098

We sell Homes                                                    

 

1 comment • Charlie Ragonesi Big Canoe, Jasper, North Georgia Pros • March 04 2011 09:45AM

The Mountain Real Estate Report

Looking for some tips if you are a seller? Or are you unsure how to start the process of buying a home if you are a buyer. Then this weeks Mountain Real Estate Report is for you. Linda and I cover the ABC's of buying and selling. The Mountain Real Estate Report is heard every Thursday on WYYZ Radio in our North Georgia Mountains. If you are interested in some of our past shows with some great guests you can always hear them on our web site www.allmountainrealty.com. Enjoy the show.

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Charlie Ragonesi All Mountain Realty Big Canoe and Mountain Blog

On line at www.allmountainrealty.com Call at 706 579 1098

We sell Homes                                                    

 

0 comments • Charlie Ragonesi Big Canoe, Jasper, North Georgia Pros • December 15 2010 04:45PM