Why to Buy – A Reminder of the Prevailing Reasons to Purchase a Home

Everywhere you turn these days, one is reminded of the perils of today’s economy, in particular the strain that has been put upon the housing market. Phoenix and its surrounding areas is said to be among the worst. Home values have declined, many homeowners evicted from their homes for non-payment of mortgages, and would-be investors are reluctant to buy new properties, fearing the market could decline even further.

It is easy to get caught up in the pessimism. However, for many potential home buyers, the benefits of owning one’s own property far outweigh the risks.Purchasing a home, at its most basic, is less about the investment potential than it is about having a place of your own. A place that you can customize to suit your personal taste; a place that provides sanctity from the outside world; a place to raise your children; a place to create memories; and a place that is your own personal kingdom where you make the rules.

For those considering the Phoenix area, home-buying in this market makes a great deal of sense right now. Myriad purchasing incentives are being offered by the federal government to entice buyers including cash incentives, significant tax breaks, and extraordinarily low interest rates. Moreover, the availability of homes is incredible. The opportunity to find a home that fits both your vision and your budget is without compare. So why wait?

Life doesn’t come with a crystal ball. You can line up fifty real estate market prognosticators and come back with fifty different predictions regarding the fate of the housing market. Do yourself a favor and through those predictions out the window. The only truth that you should hold on to is that no one really knows. The fact remains, you and your family (or future family) are always going to need a place to live.

Invariably, the market will fluctuate as it always has. The right time to cash in on your property may come a few times in the future. You would be fooling yourself to think otherwise. Nevertheless, that should not be your motivation to buy. There are too many good reasons to buy a home, most of which have little to do with the potential for your home value to double.

Homes, especially your primary residence, were never intended as financial investment tools by the architect. They are most-often fashioned to fulfill one of the basic tenants of human existence … shelter. The nice part is, once you have found a place that you can both afford and enjoy, the benefits of home ownership continue to apply themselves over the years.
Phoenix is such a unique place. Located in central Arizona, one is within driving distance of lakes, skiing, Mexico, and even the beaches of California. For most of the year, the weather is second-to-none and there are myriad activities to enjoy right-around-the-corner including diverse cuisine, hiking on nearby peaks, casinos, world-class resorts, all set in the enchanting backdrop of one of planet Earth’s most dazzling ecosystems, the Sonoran Desert.

Forget market projections. If the experts knew what they were talking about, the market would not be in its current state of disrepair. Buy a home for the right reason – to live in it, to enjoy it, to establish a place you can truly call your own. Once you have, you can revel in your decision when secondary and tertiary opportunities present themselves such as equity loans, preferential tax treatment, capital gains exclusion, and property tax deductions. Pull the trigger now, and I promise you, the day will come when your home is worth a good deal more than you paid and you stand to make a big profit. Of course, because you took some good advice, you will be torn as you really love your home. Oh well, life is about making decisions.  That is what is known as a ‘good problem to have.’