By Kate Jonuska
Buy low, sell high. Builder Pulte Homes agrees with this wise old adage about investments, particularly in today’s rebounding real estate market.
“The combination of low property prices and low interest rates mean that you can get into real estate for a much smaller investment than you could a few years ago,” says Randy Carpenter, vice president of sales and marketing for Pulte in Colorado.
“And if the economy is returning as a lot of the prognosticators say it is, those prices are heading right back up, meaning your investment is certain to pay off in the long run.”
401k funds, stocks and bonds: Such financial tools may be what the average person thinks of as an “investment,” but real estate is what often makes up the majority of a person’s wealth, even at retirement.
“You can’t live in your 401k, but you can live in your house,” says Carpenter, pointing out that low prices aren’t the only reason to make a real estate investment right now. “With interest rates being low, you really can buy for the same you’re paying in rent, but also realize tax advantages with the mortgage interest tax deduction and the first-time buyer tax credit,” the latter which runs through the end of November, though there’s talk of an extension.
CLICK HERE to read the full text of this article, which published in the Nov. 8, 2009 Springs Home & Style.
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