subject: Why Is This a Great Time to Build [print this page] Why Is This a Great Time to Build Why Is This a Great Time to Build
Just about everywhere you turned the past couple of years you heard cautionsabout today's economy and the fact that buying a home might not be such a good investment any more. Well, I have a completely different take on all of that. Now I am not an economist nor am I an invest counselor but I know one thing, a home is a critical part of my family's stability and I want the best home I can afford for the money. So with that in mind, even if the naysayers are correct and that a home as an investment is not what it used to be (I completely disagree by the way) it is still important to my family. It is where my children will grow up and where my wife and I will live out our years as we enjoy our grandchildren. So in my mind, if I can take advantage of today's economy to improve my position for my family I am going to jump on it.
Now let's look at the current economic situation. Home values have dropped in most areas of the country. Some have dropped dramatically and others have been less affected but still seeing home decrease in value. But here is one thing to keep in mind: it is not just your home that has dropped but the whole market has been affected. So if I live in a $200,000 home and it has dropped by 10 and see it more as a buying sign just like we do with the stock market, then we can possibly "get your cake and eat it to."
Let's say that your current interest rate on your current home is 6. That two percent drop could get you into significantly more home for a fraction of what it would normally cost because we are in a double dip economy with both home down and interest rates at all time lows. So again, the key is to look at what sort of payment you can afford and then look to see what that sort of payment will get you. Now don't forget a new home and even possibly a custom new home. Builders are making great deals today to keep busy and so in some ways we have the potential of a triple-dip economy. So why not "go for broke" if it turns out you can qualify. That is my thinking because I still believe in America and have confidence that things as they always have will turn around and thrive and I personally don't want to one of those sitting back later and saying "if only I had taken the plunge". And I don't know about you but I have said that far too often in my lifetime.
