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BuyNewBuyNow™ wants you to know all the facts about new home ownership to help you make an educated decision when it comes time to make the biggest purchase of you life. We are here to help you make your home more than just a house. Buy new and buy now. It's the smart thing to do for people looking for equity, appreciation and money saving tax deductions. While some naysayers point to a softening of the new home market, the reality is that there has never been a better time to buy a new home. |
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Learn more about why a new home is right for you, and about the home buying process. |
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How Buying is Still Cheaper Than Renting Times have changed drastically since your parents bought their first home. Gone are the days of 13 percent interest rates and limited selection. Today, interest rates are still at historically low levels when viewed over the course of 20 years and the loan programs being offered by banks are more flexible than ever. Isn't it time to invest in your future and begin putting money in your own pocket instead of giving it to your landlord? At the end of the lease you have nothing to show but a fistful of rent receipts. At the end of the first year of ownership you will have started building equity in a home that has most likely appreciated at a higher rate than a typical money market security. By taking advantage of financing programs being offered by lenders to builders that are more flexible than ever and interest rates that are still at historically low levels, your monthly mortgage payments may even be less than you are currently paying for rent. Renting does nothing except line your landlord's pocket. While the landlord may be there to fix a sink if it broke but what about after the lease is over? At that point the renter packs up their belongings and walks out the door. The amount of money spent on rent may have been lit on fire because there was no equity, credit or profit built from the experience. When you buy new it isn't like that, in fact it is completely the opposite. When a homeowner sells a home they take much more with them than their personal belongings. Buying a home boosts a credit rating (assuming that payments were made on time) and allows someone to borrow more for a new home, car or anything else they may need. When that home is sold if the condition is the same or better than when it was purchased, a profit will be made. Land and the homes on it appreciate in value at a rate of 5.6% (national average). While a home may not jump up ten percent in a year like it did in years past, appreciation is still much higher than it has been over a 20-year span and in fact the average rate of appreciation has grown 1.6% over last year. Homeowners are entitled to tax breaks that renters are not. This means that in addition to the profit made on the sale, equity built and credit improved the buyer will also save more money on their taxes. Mortgage is deductible on taxes. If a home loan is over $100,000 the homeowner is able to deduct a portion of the interest that they have paid in their monthly payments all year long. While tax time may get more complicated, the tax savings are well worth it. Property taxes, interest on loans for second properties and many other household expenses can be deducted as well. And when a home is sold the profit will sometimes be exempt. Many prospective buyers are discouraged from buying a new home because they lack the nest egg to make a sizable down payment. While lenders and builders used to require a large payment at the time of purchase, times have changed. Right now there are more and more zero down payment programs available to buyers that qualify. This means that less and less savings will be needed at the closing. This allows for a much larger segment of the population to be able to buy new. While renting may be appropriate for some people that group is shrinking everyday. As the cost of renting continues to increase and the price of new homes continues to decline, more renters are opting to buy. Why live in an apartment that many people have lived in before when you and your family can be living in an affordable, quality built new home. BuyNewBuyNow.org is a group of independently owned, like-minded builders committed to providing the best house for the fairest price. It is our goal to let consumers know what is really going on in the restate market. We pride ourselves on the quality of our craftsmanship and the honesty of our word. BuyNewBuyNow wants the consumer to know all the facts about new home ownership to help them make an educated decision when it comes time to make the biggest purchase of their life. We are here to help you make your home more than just a house. Submitted 9/8/2006 11:14:39 AMBack to Press Room |
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