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Headlines about rising interest rates and low inventory might make you hesitate to buy a home – but they shouldn’t. Now can still be great time to buy a house.

  1. Home values always rise in the long run

Home values in the U.S. have historically risen over time, although the can sometimes dip, as they did during the Great Recession. But in the long run, real estate in the United States has been an excellent investment.

2 . Your investment value will grow faster

Think of the money you spend on a down payment as an investment, much like a savings account. While it’s harder to access the money, it’s still yours – as equity in your home. That equity will likely grow faster than money in the bank.

3. Your housing payment builds your net worth – not your landlord’s

Whether you purchase a house or rent one you’ll have a payment. You might as well use those payments to build your wealth, not someone else’s. When you own a home, part of your monthly payments go to pay down the principal of your loan – this builds equity.

4. Home related tax benefits can give you a break

A big benefit that you won’t enjoy as a renter is mortgage interest deduction which allows you to deduct all the money you pay in interest toward your federal taxes, provided your loan is less than $750,000 and you choose to itemize your deductions.

5. You can always re-finance in the future

While rates seem high right now, they are still slightly below where they’ve been at any point before 2001. Mortgage rates will continue to fluctuate over time and as rates decline you may be able to refinance to lower your interest rate.

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