Ten Reasons To Buy A New Home

1. Build Equity Faster – Here’s a little secret…builders raise prices constantly. While your New Home is being built the value of the New Home you purchased is increasing in value with every builder price increase. By the time you move in, your home could be worth 10% to 15% more than what you paid for it…and it keeps building equity while the remaining houses in the sub-division continue to be sold.

2. Unparalleled Options and Comfort - Today's New Homes include the most advanced products and technology. New Homes are designed to fit the needs of today's buyers.

3. Energy Efficient – New Homes built today are as much as 50 % more energy efficient than homes built before oil prices skyrocketed in the 1970's. Extra insulation, efficient heating and cooling systems, double-glazed windows and insulated doors are just a few of the fuel efficient features built into a New Home.

4. Warranty Protection - New Homes come with warranties on workmanship and materials used. This protection will give you additional peace of mind in making your purchase.

5. Quality of Life – A New Home is one of the smartest purchases you will ever make. You will probably be spending more than half your time at home. That's why it makes sense to seek a quality New Home that you can customize to your tastes.

6. Personal Wealth - Buying a New Home also makes good financial sense. With most mortgages, you gradually increase the proportion of the house you own while decreasing the amount you owe the lender. As your equity builds, your personal wealth increases.

7. Leveraging - A New Home can allow you to increase your wealth through a process called "leveraging." The equity in your New Home is equal to your down payment plus appreciation. That equity is available to you through a Refinancing, Second Mortgage or Equity Line of Credit if you need the money for something else (emergencies, college tuition, etc.).

8. Annual Tax Deductions - Tax laws have changed considerably in recent years. Even with the changes, your New Home is still one of the best tax shelters for your income. You can still deduct mortgage interest and property taxes from your federal and state income tax returns.

9. Tax Treatment of Appreciation - If you deposit your savings in a bank account, you must pay taxes every year on the interest you earn. With a house, you won't have to pay taxes on the appreciation unless you sell it and don't reinvest the proceeds in a new primary residence.

10. Nest Egg for Later Years - The tax laws permit capital gains exemption of up to $500,000 on your principal residence. If you want to use the equity in your home, this provision allows you to do so without being hit with a big capital gains tax.

Delay Can Cost You Dearly - Never rush into a home purchase without exploring as many options as possible. BUT…Don't postpone the purchase in the hopes of finding a better deal in the future. If you are tempted to gamble that interest rates and/or house prices will fall, remember that the stakes of your gamble are high and the odds are against you.


    

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