Why would ANYONE buy a house these days?

Well, lots of reasons, actually.

Granted, if you’ve always wanted to be featured on an episode of “Flip That House” or “Property Ladder” or the lesser known “Watch Me Get In Way Over My Head About Something I Know Very Little About”, the ship may have sailed on you. But that’s not necessarily a bad thing.

The truth is, buying a house makes sense now just as it has for generations and for the same reasons: stability, pride of ownership, security.

Yes, security.

“Crack Kills”, you may be thinking to yourself. But no. I’m not high. There is security in owning your own home. As much security as in anything. Where things have gotten of track in some markets is that some folks started thinking of their houses as slot machines wired to come up a winner on a regular basis instead of thinking of them as….houses.

Buy a home, stay in it for an extended period of time, expect a modest increase in value, and when you sell you should have built equity and walk away with cash in your hand.

But even if you break even after selling, you are still a winner. You will have enjoyed the impressive tax benefits of deducting mortgage interest and property taxes. And, unless you are living in your parents’ basement rent free, you have to pay to live somewhere, right? Better to pay your own mortgage than pay your landlord’s mortgage.

Talk to a good lender, borrow within your means, look at homes you can afford, pay your bills and start relaxing about whether it’s time to buy a house. Because, if you qualify for a mortgage that is comfortable for you and you will be in the same place for a few years, it’s time to buy.

Really.

Tags: Greensboro, Real estate market, realtor