I call Arizona’s last 10 years the real estate ‘gold rush’ …. Well, at least the years of Phoenix AZ real estate growth that came to an abrubt halt at the end of 2005; where for the first time home buyers thought of getting rich and making money on their own and a place to live was secondary.
yes, a lot of money was made; and lost. However, there is a new opportunity to make a lot of money again. Over time, of course as real estate prices have retreated to 4 year lows and interest rates are near 5%.
I just want to remind ever Phoenix AZ real estate buyer to remember the
Top 5 reasons to buy a home. (the order is different for everyone)
- a Home is place to live
- enjoy tax benefits
- a fixed mortgage payment in time (rents typically rise with inflation)
- each month you save money by paying down your mortgage loan
- build a nest egg over time
Today’s home buyer is seeing opportunities that they may never have expected.
I encourage you to buy a home only if you can stay in your home for at least 5 years, put down at least 10% (20% is better) and get 30-year fixed mortgage.
If you can handle the payment comfortably then history has proven that you will build a nest egg while enjoying all the other benefits home ownership has to offer.
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Copyright © 2008 By James Wexler, All Rights Reserved. *Top 5 reasons to buy a home*
Contact James Wexler (480) 221-8080 for all your Phoenix AZ Real Estate and Scottsdale AZ Real Estate needs.
