Should I buy a home now??

Posted By Georgia Bell @ Jul 14th 2010 12:58pm In: General


1011485 - Residential
Summerville, SC

Wonderful mini estate on 7 acres - 3 lots - on a pond with a small dock! The home has a swimming pool and a fountain. There is a "state of the art" electronic "smart house" remote controlled system which runs the televisions, stereo system, lights and six security cameras. A subzero refrigerator, bread warmer, eight gas burner stove, wine cooler. Italian marble floor tiles and countertops which were imported from Milan, Italy. A planetarium for the children with a loft and fiberoptic lights on the ceilings. Extensive mahogany panelling and 3 wall safes. A hand carved spiral staircase also graces the library. This home is truly a BARGAIN! Please do not miss out on this opportunity - two apartments - one mother-in-law suite and another 1 bedroom apartment over the garage!

Interest rates are still at an historic low. I can remember when they were 12% and 14% 

Most economists are predicting that interest rates will be going up again - to what level we don't know  A slower economy generally results in higher interest rates and I don't think anyone would suggest that we are in anything other than a tough economy right now


If you want to buy a house now and you plan on staying in it for at least 5 years and you plan on having a mortgage, it makes so much sense to buy now. WIth such low interest rates, your monthly payment will be less if you buy now - even if you buy a home that does decline somewhat in value - your monthly payments will be lower than if you wait to buy cheaper at a much higher interest rate... 

And put your extra cash somewhere it will earn more than the interest rate you are paying... make sense?  In other words, put your cash where it can earn more for you -

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