Cnnmoney.com published an article citing reasons why real estate is a better investment than stocks or even gold. Austin’s real estate market has weathered the economic storm for the most part. Some analysts have even declared we hit bottom last Spring and with less that six months of residential inventory, a seller’s market is quietly creeping up on buyers. Take advantage of the tail-end of the seller’s market and invest in a home.
Need more reasons for buying a home? See below:
Rising Rental Rates – With a occupancy rate of 97%, most apartment complexes and landlords are raising rents due to high demand. With very few multi-family residences being built and a continuing influx of people moving to Austin, rates will continue to rise steadily.
Build equity – Instead of throwing money away in rent every month, why not invest in your own future? Your mortgage can be considered a “forced savings plan” which pays you back in the long run.
Tax Benefits – When you purchase a home, the interest of your mortgage and most of your payments in the early states related to interest can be deducted. Real estate taxes and in some cases mortgage insurance are also tax deductible.
http://finance.fortune.cnn.com/2011/03/28/real-estate-its-time-to-buy-again/