1. You can get a good deal.  This is a buyer’s market.

2. Mortgages are cheap.  Interstest rates are still low.  They will be going back up, and now is a great time to buy before they go up.

3.  You will save on taxes.  You can deduct interest from your income taxes,and you can deduct real estate taxes.  You will get a tax break on capital gains when you sell.  Of course you must speak to an accountant or tax attorney to help you itemize all deductions.

4. It will be yours.  You can decorate, paint, move walls, and do all the things you could not do while renting.

5. You will get a better home. 

6. If offers some inflation protection.  Studies have shown that houseing tends to beat inflation by a couple of percentage points a year.  That is valuable inflation if you will be in your home long term.

7.  It is risk capital.  Equity in a home is on way of linking part of your portfolio to long term growth of the economy.

8.  It is forced savings.  When you pay principal on a house, you are builiding equity which is as good as a forced monthly saving.

9.  There is a lot to choose from.  Once again, it is a buyers market out there.  There is a ton of inventory on the market right now and buyers can be choosers!  With banks unloading a great deal of their inventory there will be great choice as well as great prices.

10.  Sooner or later, the market will clear.  WIth the population expected to grow to more than 100 million people over the next 40 years, many homes will be bought and the market will clear.

Buying a home is a great investment.  It helps build equity along with giving you the freedom to make your home your own.