When you begin the decision-making process of buying your first home, your Tomie Raines, Inc. Real Estate sales professional can guide you through the pros and cons of renting vs. buying. A simple evaluation can help you decide if you are financially and personally ready to make the investment of homeownership. Here are some facts about homeownership that may surprise you:

•    Homeownership can be a good investment opportunity. A house offers leverage and the possibility for appreciation in value. And, you can use this investment while it's working for you!

•    You can't afford to overlook the tax breaks of homeownership. Since mortgage interest and property taxes are tax deductible, homeownership can save you money each year.

•    It’s a great time for first time buyers. There is a plentiful selection of attractively priced property, great financing options, and special tax credits that make this a great time for first time buyers. Ask your Tomie Raines, Inc. agent about first time buyer programs.

•    Renting doesn't protect you against rising prices. Rental units are just as susceptible as homes to increases in taxes, insurance, utilities and other costs. Landlords will pass along these increases to the tenants.

•    Timing the market is a losing game. Average selling prices have declined but those averages are about as useful as the average temperature in Michigan today. Individual properties vary greatly and if you find just the right property, waiting for further softening often results in losing the buying opportunity. Over the long term home ownership has been a great investment regardless of when you buy.