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 January 07, 2007

The question is - Why buy a Home?
The real estate market of today has many potential home buyers looking at the purchase of a home for reasons other than the obvious: your home provides shelter for your family; it serves as the nucleus of your family. Your home is where birthdays, graduations, holidays and a wealth of memories will be made. It is important that the home buyer of today has a clear understanding of the reasons why it is important to purchase real estate as a long-term investment.
Obviously, different people have different reasons for purchasing real estate, and there will always be those investors in the market that purchase homes to generate a quick profit.

Today's family home buyer is advised not to expect your home to be a piggy bank which will generate income for you through equity due to inflation. Many people were using the equity in their home to pay off credit card debt, car loans, and to finance other purchases. This has been the case for many over the past six years. Today the start of 2008 carries with it many homes that have more debt attached to them than the value of the property can sustain, and many families are finding themselves in serious financial turmoil.

Be sure to have the correct focus when approaching the prospect of buying your own home. Your family is first, and secure housing should be the goal at hand over any desire to make a quick profit. Over the past 20 years, the market has seen an average overall increase of 7%, a respectable increase for any long-term investment.

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