1.  You can get a good deal. Prices are down about 30% from their peak, according to the Case-Shiller Index.  Tax credits on purchases have expired and most Buyers have disappeared. Now that we're four to five years into the biggest housing bust in modern history, will prices continue to fall? Maybe. You'll never catch the bottom. It doesn't really matter so much in the long run, so Buy your Real Estate bargain today.

2.  You may not see mortgage rates this cheap again. A 30-year loan for around 4.3%? What's not to like? These are the lowest rates on record. Two years ago they were about 6.3%. That 2% drop means a 20% lower monthly mortgage payment.

3.  Save, save, save on taxes. Deduct the mortgage interest from your income taxes; deduct your Real Estate taxes. And perhaps a tax break on capital gains–if any–when you sell.  Do the math – you only get the income tax break if you itemize your deductions.  The more you earn and the bigger your mortgage, the more valuable the deductions. But it can mean owning will cost you much less than renting.

4.  Mine, all mine!  Have the kitchen you want, put in the claw foot tub. Renters often find it impossible to personalize. You'll have more pride in a home you own than if you rent.

5.  For the best home in the best neighborhood, you’re better off buying, in most cases. It can be hard to find a good rental in a good area.

6.  Real Estate tends to beat inflation.  Even if it’s only by a couple of percentage points a year, that’s valuable inflation protection.  Particularly if you’re young, raising a family and have the time. No, it's not perfect but it does make homeownership look a little better over the long haul.

7.  It’s probably not going to make you rich, but equity in your home is risk capital. At some point, Real Estate prices will head up again as the economy rebounds. Equity is a way of linking part of your portfolio to the long-term growth of the economy, instead of attempting to own large quantities of stocks.

8.  Will you save for your future? Once again, do the math.  Renting may make sense if your monthly rent is lower than a mortgage payment.  But if you won’t save the difference, the part of your mortgage that goes to principal repayment is forced savings. You're just paying yourself by building equity. As a forced monthly saving, it's a good discipline.

9.  Great choice, as well as great prices. In most of the country there is a glut of homes. According to the National Association of Realtors, current inventory is around 4 million homes, translating to about a year’s worth of sales. And, as banks trickle new foreclosures into the market, the inventory will stay well above typical levels.  

10.  The housing glut will work itself out. Demand and supply will meet. Many of the homes will be bought. Forecasted growth of more than 100 million people over the next 40 years means that maybe 40 million new households will purchase homes. But many more will simply be destroyed–either deliberately, or by inaction. And, finally, a lot of the "glut" won't matter: It's concentrated in a few areas and unless you live there, the glut won't have any long-term impact on housing supply in your town.

So, no more gloom and doom.  Contact The Evelo Team at Keller Williams Realty to find out how these 10 reasons to Buy a home will best benefit you.  You can reach us at 317-863-4663 or by e-mail at Team@EveloTeam.com.