Best Reasons Why People Buy A Home

Questions I hear all the time......

“Should I wait a just little longer so I can get a real deal?”

“Do you think interest rates will rise soon?”

 “Are houses selling in our area?”

I don’t have a crystal ball, but I do read a lot, I listen to the experts, and I watch the market very closely, especially in our own area. Being informed is the only way I can attempt to answer these great questions.

Sure, everybody has their own opinions, as I’m sure you do, too. While others are invited to take part in surveys (Where am I, when they take these surveys, anyway?). Nonetheless, survey after survey, the cost is not the real reason behind why families actually buy a home.

The findings of two surveys recently taken, you’ll find important reasons of why (in order of importance) a buyer does buy a home.

According to the National Housing Survey:

The top five reasons given in the survey for buying a home are:

1. It means having a good place to raise children and provide them with a good education.
2. You have a physical structure where you and your family feel safe.
3. It allows you to have more space for your family.
4. It gives you control of what you do with your living space (renovations and updates).
5. Paying rent is not a good investment.

According to The Myers Research and Strategic Services Survey:

The top five reasons given in the survey for buying a home are:

1. Home ownership provides a stable and safe environment for children and other family members.
2. Home ownership means the money you spend on housing goes towards building equity, rather than to a landlord.
3. Home ownership creates the opportunity to pay off a mortgage and own your home by the time you retire.
4. Home ownership creates the opportunity to live in a neighborhood that you enjoy.
5. Home ownership allows you the right to decorate, modify, and renovate your home as you see fit.

While, of course, the cost has a lot to do with it, you can’t put a price on happiness! (Most likely in this economy, it’s a good ‘deal,’ anyway). And yes, the % rates still low, for now, and, ‘yes,’ houses are selling in our area.

More importantly, it comes down to what’s really important for you and your family to live a better lifestyle. Don’t put your life on hold – get on with it.

Homebuyer’s Info:

There is a great program for Suffolk for first-time home-buyers still in effect: http://www.lipolitics.com/suffolk-legislature-extends-first-time-homebuyer-tax-exemption.htm

Unfortunately, Nassau’s program wasn’t extended:http://www.nassaucountyny.gov/agencies/CountyExecutive/NewsRelease/2010/11-9-2010.htm

Other great resources to tap into: http://www.mlsli.com/housingresources.cfm

Also, Newsday will have a homebuyer’s webinar, Thursday, July 28 at 8pm and you must register first - http://www.newsdayinteractive.com/specials/FirstTimeHomebuyersWebinar/