With all the doom and gloom articles that have been published in the last few years about the economy and the collapse of the housing market, one might think that investing in real estate might not be such a good idea. I beg to differ for a number of reasons in our local market place.
10 Reasons to Invest in Real Estate
- Prices have dropped to the extent that now would be a perfect time to upgrade to that home that you couldn't afford in 2006.
- Interest rates are at some of their lowest levels which makes it more affordable to make your payments.
- The interest is still tax deductible which can help you with finances.
- It is a forced savings plan when you consider it is going towards something that you will eventually own.
- You have something to show for your monthly payments.
- You can decide when and how you want to remodel your home and not have to ask anyone else.
- When the economy turns around, and it will, you will have a head start on building wealth for your future.
- Real estate has always seen highs and lows and wouldn't it be better to be buying when it is at a low?
- You'll get a better home.
- It is a hedge against inflation.