Archive for September, 2010

I really don’t want to go too far astray from Bedminster specific information, but I thought this top 10 list would give you something to think about if you are considering a move into or out of Basking Ridge and don’t know whether to buy or rent.  I’ve been spending a LOT of time recently trying to find a tenant for one of my favorite customers, he might rather I not talk about this today… but it looks like we may have a lease signed today or tomorrow so I’m in the clear!

1. Get a good deal – Prices have come down, and affordability is close to an all time high.
2. Mortgages are cheap – Rates are at 50-year lows.
3. Save on taxes – Homeowners can deduct the mortgage interest and real estate taxes from their income taxes, and get a tax break on any capital gains when they sell.
4. You own it – Owners have options over renters. Choosing paint colors, moving walls, planting a garden, etc. 
5. You’ll get a better home – It can sometimes be difficult to find a good rental. Generally speaking, consumers who want the best home in the best neighborhood are better off buying. 
6. It offers some inflation protection – Studies have shown that over the long term, housing has tended to beat inflation by a couple of percentage points a year.
7. It’s risk capital – Having equity in a home links part of your portfolio to the long-term growth of the economy without having to manage separate investments.
8. It’s forced savings – Even if renting a home is less expensive than purchasing, most people won’t save the difference.
9. There is a lot to choose from – That means great choice, as well as great prices.
10. Sooner or later, the market will clear – Demand and supply will meet, and we will be back to a normal market.