DECIDE TO BUY Congratulations on your decision to purchase a home! Buying a home is one of the most important personal and financial decisions you will ever make. It is an expression of your hopes and dreams, your lifestyle and values. It is a place to spend time with family and friends, as well as your personal retreat at the end of your day. Garry and Mary will be your trusted advisors, helping you to clarify your housing needs and desires, locating that perfect home with you and guiding you through the technical process of negotiating the terms and conditions of entering into a contract to buy your home. 1.1 Why Do You Want To Buy? Whether you are a first-time homebuyer or entering the marketplace as a repeat buyer, you need to ask why you want to buy. Have you outgrown your current home? Would you rather live in a different area? Are you planning to move to a new community due to a lifestyle change? Are you currently renting and would like to have a property where you can begin building equity? These kinds of factors will all have a bearing on how you approach your home search. Having a clear sense of your reasons for buying will help you choose the perfect home. 1.2 When Are You Planning To Move? Establishing a time frame for buying is an important first step in purchasing a home. Your time frame depends on your many reasons for wanting to buy and is based upon the area and the kind of home for which you are looking. For example, if you are looking to build a home it will take longer than choosing a builder inventory home or an existing resale home. 1.3 Do You Need A Tax Break?  The U.S. Tax Code allows you to deduct the interest you pay on your mortgage, property taxes and some of the costs involved in buying your home. You may be pleasantly surprised to discover that you might be able to afford to spend more money each month on a larger mortgage because the tax benefits from your mortgage can actually lower your income taxes. 1.4 Renting Versus Buying. If you are renting or contemplating renting, you may be shocked when you add up what you have spent or may spend on rent over the years. Many people find the tax advantages of home ownership make it less expensive than renting. The tax benefits of home ownership can provide a considerable advantage over renting. For more information or if you have any questions, please contact Garry and Mary at any time.