Combined with historically low interest rates and a plentiful inventory of affordable homes, the recently passed tax credit of up to $7,500 for first-time buyers presents an excellent opportunity for those looking to make their dreams of homeownership a reality. There has never been a better time to buy a home. Seize the opportunity; the first-time buyer tax credit only applies to purchases closed by June 30, 2009.
According to reports conducted by the National Association of Realtors covering a three year period, there are many other benefits of homeownership. These advantages include:
Smitha Ramchandani is a licensed real estate professional at Weichert Realtors' Morristown West, New Jersey office. She is a Certified Buyer Specialist, a Home Marketing Expert and also an expert in buying and selling of townhouses and condominiums. You can reach Smitha at: 973-252-8245 (Res.) or online at: http://www.Morris-Homes.com or http://www.TheTownhouseExpert.com
- Higher education performance and graduation rate.
- More household participation in civic affairs, a greater level of voluntarism and increased awareness of local politics.
- Better physical and psychological health, as well as higher life satisfaction, self-esteem and perceived control over life decisions.
- Greater median wealth compared to renters with comparable incomes.
