Buying a new home is really an investment. Here are some of the things that you need to know why it is the best time to buy a new home today:
The government has extended the tax credit for first time homebuyers; first time homebuyer is defined as someone who does not own a house for the past three consecutive years. The tax credit for first time buyers was extended until the end of April 2010. The tax credit is ten percent of the home that was purchased.
Affordable homes are available in the market right now because of home foreclosures.
Property taxes and Mortgage loan interest are low at this time so it is good to make an investment in buying a new home.
If you are currently renting a property right now, this does not build any equity. However, if you buy a home right now, its equity could appreciate in the next few years.
If you are secured with you job for the next three years, then it is better to buy your own home now.
If you have plans of staying longer or permanently from where you are right now, it is better to buy a new home, instead of paying a rental property.