Home Values
Today's home prices have been increasing at a tremendous rate, we are seeing
a slowing of these rapid increases, making for a more stable market. This,
combined with an interest rate that remains low makes for a great market for
both buyers and sellers. The trick to finding a home that will hold its
value remains the same as always...location, location, location.
As odd as it may seem, when you are buying a home, you need to first
consider, "Will it sell easily when I need to sell it?" It seems like the
last thing you want to think about when purchasing a home is what will it be
like when I need to sell it, but that is exactly what you need to consider
when you walk thru a new home. If you purchase a home that will continue to
be desirable in years to come then you will experience the maximum increase
in value.
In order to keep your homes value growing, don't treat it like a revolving
charge card. Too many people use that equity to pay off consumer debt and
years down the road have nothing to show for it.
For those first time home buyers, don't try to purchase that dream home
right away, keep your payments reasonable and let the equity grow as your
earning power grows. The second or third home purchase should be that "dream
home". Speaking with a investment consultant is a great help in
setting your financial goals, a home purchase can be a big part of those
goals, but don't forget to leave enough in your monthly budge to put away
for retirement as well.
Should you wish to discuss any of these ideas in more detail, or perhaps get
a referral to a good investment counselor in your area feel free to
e-mail
or call me with questions.