10. Buy real estate, enjoy your real estate, play on your real estate, work on your real estate! Harvest your retirement when the time is right and keep your profit instead of giving it to some greedy CEO. Be in control of your retirement! There won’t be a bail-out for people like us!
9. The interest you pay every month on your primary residence (home) is tax deductible! The rent you pay every month for a place you call home is not! Therefore if your income is steady you may actually be able to have less tax withheld from your paycheck and bring home more on a monthly basis.
8. Real estate investment properties can provide you with an income, and you can depreciate the building value over time, saving you thousands of dollars on your income tax. Wouldn’t you rather “Madoff” with your own money?
7. From now until June 30th, 2010, if you are a first-time homebuyer you could get up to $8,000 Federal Tax Rebate. You must enter into a Purchase And Sale Contract by April 30, 2010. There is now also a repeat homebuyer credit of $6500. Is it worth passing up this very generous gift from Uncle Sam?
6. Currently we are in a Buyer’s Market! A large real estate inventory makes this a great time to buy. Would you rather buy when prices are down and you have a lot of choices or wait until prices are high and there is a lack of choices to choose from?
5. Interest rates are at historic lows. Many of us remember the early 80’s when interest rates were 12-15% and even 20%. Rates in the vicinity of 5% are amazing! Did you know the monthly payment on a 30-year, $100K mortgage at 5% interest is only $536.80?
4. Buy a home today and watch the equity in your home grow. It’s conceivable if you purchase a home in this market to see the values of your home double in 5-10 years. What about the new car you’re making payments on? What will that be worth in 5 years?
3. The best investment on earth is earth itself and in case you haven’t heard, they aren’t making any more land. As the world’s population grows, earth remains the same size, making land one of the most important commodities. Wouldn’t you like to have a parcel of land to call your own?
2. If you have lived in your primary residence for more than two years you can sell your home and keep up to a $500k profit without paying any income tax! Do you know of anything else where you can make $500,000 and pay no tax?
1. A recent federal reserves survey states that the average net worth of a homeowner is $234K. That is nearly 46 times that of a renter who has an average net worth of $5,100. Which category would you like to be in?
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