Reasons to Buy (cont)
September 23, 2010
Here are numbers 8, 9 ,10 of Brett Arends' "10 Reasons to Buy a Home" in his column of September 15 in the Wall Street Journal.
"8. It's forced savings. If you can rent an apartment for $2000 month instead of buying one for $2400 a month, renting may make sense. But will you save that $400 for your future? A lot of people won't. Most, I dare say. Once again, you have to do the math, but the part of your mortgage payment that goes to principal repayment isn't a cost. Your just paying yourself by building equity. As a forced monthly savings, it's good discipline."
"9. There is a lot to choose from. ...The National Association of Realtors puts the current inventory at around 4 million homes....More keep coming onto the market, too, as banks slowly unload their inventory of unsold properties. That means great choice, as well as great prices."
"10. Sooner or later the market will clear. Demand and supply will meet. The population is forecast to grow by more than 100 million people over the next 40 years. That means maybe 40 million new households looking for homes. Meanwhile, this housing glut will work itself out. Many of the homes will be bought....And finally, a lot of the :glut" wont matter. It's concentrated in a few areas, like Florida and Nevada. Unless you live there, the glut won't have any long-term impact on housing supply in your town."
There you have Brett Arends' 10 reasons to buy a home. These reasons could invoke a lively discussion as to how much credence you might give to some of them. However, in my opinion, they do offer food for thought
Personally, my husband and I have bought 5 homes. The reason that we purchase each one of them was because that particular property met our family's needs at that particular moment in our lives. Each one of them created great memories of our time living in each one. Some we lost money on when we sold. Some we made money on when we sold. But when we made the purchase our focus was on how that house would meet our wants and needs.
Here are numbers 8, 9 ,10 of Brett Arends' "10 Reasons to Buy a Home" in his column of September 15 in the Wall Street Journal.
"8. It's forced savings. If you can rent an apartment for $2000 month instead of buying one for $2400 a month, renting may make sense. But will you save that $400 for your future? A lot of people won't. Most, I dare say. Once again, you have to do the math, but the part of your mortgage payment that goes to principal repayment isn't a cost. Your just paying yourself by building equity. As a forced monthly savings, it's good discipline."
"9. There is a lot to choose from. ...The National Association of Realtors puts the current inventory at around 4 million homes....More keep coming onto the market, too, as banks slowly unload their inventory of unsold properties. That means great choice, as well as great prices."
"10. Sooner or later the market will clear. Demand and supply will meet. The population is forecast to grow by more than 100 million people over the next 40 years. That means maybe 40 million new households looking for homes. Meanwhile, this housing glut will work itself out. Many of the homes will be bought....And finally, a lot of the :glut" wont matter. It's concentrated in a few areas, like Florida and Nevada. Unless you live there, the glut won't have any long-term impact on housing supply in your town."
There you have Brett Arends' 10 reasons to buy a home. These reasons could invoke a lively discussion as to how much credence you might give to some of them. However, in my opinion, they do offer food for thought
Personally, my husband and I have bought 5 homes. The reason that we purchase each one of them was because that particular property met our family's needs at that particular moment in our lives. Each one of them created great memories of our time living in each one. Some we lost money on when we sold. Some we made money on when we sold. But when we made the purchase our focus was on how that house would meet our wants and needs.
posted by shirley harry at 8:54 AM
0 Comments:
Post a Comment
<< Home