Home Loans (Taxes and Insurance)

When is the best time to buy?

Here are some frequently cited reasons for buying a house:

• You need a tax break. The mortgage interest deduction can make home ownership very appealing.
• You are not counting on price appreciation in the short term. 
• You can afford the monthly payments. 
• You plan to stay in the house long enough for the appreciation to cover your transaction costs. The costs of buying and selling a home include real estate commissions, lender fees and closing costs that can amount to more than 10 percent of the sales price. 
• You prefer to be an owner rather than a renter. 
• You can handle the maintenance expenses and headaches. 
• You are not greatly concerned by dips in home values.

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