Elton Shakulli Sold for you
Elton Shakulli Sold For You

ELTON SHAKULLI
647 237 0788

elton@soldforu.ca
Elton Shakulli Real Estate

Top Reasons to Buy a Home:

1. You Can Get A Good Deal. Especially if you play hardball. This is a buyer's market. Most of the other buyers have now vanished, as the tax credits on purchases have just expired. We're four to five years into the biggest housing bust in modern history.

2. Mortgages Are Cheap. You can get a 30-year loan for around 3.0%. What's not to like? These are the lowest rates on record. If inflation picks up, you won't see these mortgage rates again in your lifetime. And if we get deflation, and rates fall further.

3. You'll Save On Taxes. You can deduct the mortgage interest from your income taxes. You can deduct your real estate taxes. And you'll get a tax break on capital gains–if any–when you sell. Sure, you'll need to do your math. You'll only get the income tax break if you itemize your deductions, and many people may be better off taking the standard deduction instead. The breaks are more valuable the more you earn, and the bigger your mortgage. But many people will find that these tax breaks mean owning costs them less, often a lot less, than renting.

4. It'll Be Yours. You can have the kitchen and bathrooms you want. You can move the walls, build an extension–zoning permitted–or paint everything bright orange. Few landlords are so indulgent; for renters, these types of changes are often impossible. You'll feel better about your own place if you own it than if you rent.

5. It's Risk Capital. No, your home isn't the stock market and you shouldn't view it as the way to get rich. But if the economy does surprise us all and start booming, sooner or later real estate prices will head up again, too. One lesson from the last few years is that stocks are incredibly hard for most normal people to own in large quantities–for practical as well as psychological reasons. Equity in a home is another way of linking part of your portfolio to the long-term growth of the economy–if it happens–and still managing to sleep at night.

6. There Is A Lot To Choose From. There is a glut of homes in most of the Province. The National Association of Realtors puts the current inventory at around 4 million homes. That's well above typical levels. More keep coming onto the market, too, as the banks slowly unload their inventory of unsold properties. That means great choice, as well as great prices.

7. Lower Prices. A lot of people don't have the time or the desire to look for a house during the holiday season -- they're too busy shopping, going to holiday parties and catching up with family and friends. The slackening of demand is reflected in softer house prices. Houses that failed to sell in the pre-holiday period may be reduced; new listings -- though sparse -- will be priced to reflect the slow market, which picks up only gradually in the New Year. It's a good time to find a bargain.

8. Motivated Sellers. Many sellers who failed to make a deal before the holidays will be very motivated now, especially if their houses have been on the market for several weeks. They will be eager to sell and to avoid scheduling their holiday plans around viewings by prospective purchasers, so they are likely to look at any reasonable offer favorably and to negotiate on price. They may also be open to requests for extras like appliances and window coverings, and to giving you the closing date you want.

9. Less Competition. With fewer active house-hunters out there, you are unlikely to end up in a bidding war that would drive up the price for the house you want or put it out of your financial reach. Less competition also means less stress for you during the bidding process.

10. Favorable Mortgage Terms. Fewer home sales translate into less demand for mortgage money during the holiday season. Lenders may be willing to shave a few basis points off the interest rate they offer you or to forgo some of their fees in order to get your business. Make sure you shop around to get the best deal available.