The Decision to Buy a Home

The dream of home ownership is becoming a reality for more and more people in the United States today. Although mortgage rates have risen in the past few months, they remain at historically low levels. In 1976, mortgage interest rates were over 9%, and today’s rates in the 8% range means more and more people are able to qualify for home loans.

The purchase of a home is often regarded as a hedge against inflation, and a way of saving for retirement. Although there are no guarantees, residential property values generally increase rather that decrease. That means the home you buy today for $100,000, could well appreciate in value over the course of your ownership.

In today’s very hot Austin housing market, what you may be able to purchase today, may well be beyond your reach two years from now. If you are considering the purchase of a home, whether a previously owned home or a newly constructed home, it is important that your decision to purchase be based on sound advice from your Realtor, your mortgage lender, and your financial planner.

Step 1 Step 2 Step 3 Step 4 Step 5 Step 6 Step 7 Step 8