Opinions are mixed about whether the $8,000 Federal Income Tax Credit for home buyers should be extended. I’ve said repeatedly, buying a home just to get an $8,000 tax credit is a foolish notion.
You May Be Making a Big Mistake
There are many good reasons to buy a home in San Mateo – shelter, a place of your own, a personal statement, pride of ownership, better schools for your children, more room, larger lot, better neighborhood, appreciation potential, even downsizing – but if this tax credit is your primary reason, or if the only way you can buy a home is with the credit, then I strongly feel you’re making a terrible mistake.
Why Do People Buy Homes in San Mateo?
Buying a home should be about you and not some tax incentive. People don’t buy homes because the tax laws allow the deductibility of mortgage interest and property taxes. Those are just “perks” built into the tax code by the politicians to garner votes. People buy San Mateo homes for the fundamental reasons cited above; it’s as simple as that!
Good Reasons to Buy in 2009
Here are some good reasons to buy a home in San Mateo NOW.
- Your present housing situation is unsuitable
- You plan to own your next home for 5 years or more
- You’re able to afford the mortgage payment
- You’re able to find right home for this stage of life
- Neighborhood values where you want to buy are stable
Good Reasons Not to Buy in 2009
Here are some good reasons NOT to buy now.
- Your job is in jeopardy
- You plan to own the home less than 5 years
- You have owned current home for less than 2 years
- You own a home in a neighborhood where values are falling significantly and foreclosures are rampant
The Real Question to Ask Yourself
Buying or selling a home in San Mateo is all about you. Here’s the real question to ask yourself: Is buying home right for me at this stage in my life?
Stay Tuned Here for First Time Home Buyer Tax Credit Updates
When a decision is made one way or another, we’ll report it here on our San Mateo first time home buyer channel.
Is Now the Right Time for You to Buy?
Check out our Buyer Representation Page to learn how our buyer representation program is all about you. Then, contact us at (650) 655-2500 or info@RayChelRealtyGroup.com for a free, no pressure, no obligation consultation. We’ll help you determine whether or not now is the right time for you to purchase a San Mateo home.
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