Here?s a provocative WSJ-Smart Money video that explores the pros and cons of buying a home in this market, it is an excellent primer for any home buyer. It nails what we?ve been?telling our clients?for years ? don?t buy a home expecting to get rich, buy a home to live in. Treat it as it is ? a commodity just like everything else you buy. Your car needs tires and the oil changed; your home needs systems maintenance and paint. A Mercedes costs you money, a home does as well. A Mercedes wears out and so does a home. Do the math, where you live it might be better to rent than buy. And above all, don?t expect to get rich owning a home ? or even keep pace with inflation as history indicates that?s unlikely.
However, we all need a place to live and as this clip explains there are two camps involved; the data camp and the emotional camp. Bottom line is do your homework, define success and keep your expectations rooted in reality.
We?ve long maintained that not everyone should buy a home, but for those educated and qualified buyers, now can be a good time to buy. At the end of the day, there is a level of satisfaction with homeownership, a tradition with a long history behind it. We ?Find out more and see if buying a home in Atlanta is for you.
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