A home is still the best investment you can make.

I have been selling real estate throughout central Connecticut for almost 9 years. In that time the market has changed significantly, but contrary to popular belief now is actually a great time to buy. I’m sure you’ve heard and seen the Realtor ® adds making that statement, but the more I see on the news about investment companies/people scamming and bankrupting the public, the more I truly believe property is the best place to invest your money. I remember seeing on the news a few weeks ago how Kevin Bacon and his wife lost almost all their money to Bernie Madoff and his Ponzi scheme. According to the news, all they had left was some money in a savings account and the EQUITY in their homes. Now most people won’t feel bad for the Bacon’s or any of the other celebrities that were taken by Madoff, but how about the brick layer from Long Island that lost everything he spent his whole life working for, again in the end to only have his home. There are so many more stories like that. At the end of the day people still need a place to live, and a home/condo is something tangible that, as long as you pay for it, you will own indefinitely and eventually own free and clear. Even if a fire burns it to the ground, you have insurance and can rebuild. If a company you have stock in goes out of business, you’re just out that money. Clearly the housing market is just as unpredictable as the stock market, but even though housing values can drop, they will come back and your home is always going to be worth something and provide you something that every person needs, a place to live.

Don’t get me wrong, the stock market is still a good place to invest some money in, but a home is something you have control over. You actually have some say in its worth, the more you put into it, the more you will get out of it.

The government has even come to the realization that homeownership is something that will help get our economy get back on track, as part of the current government bailout they are offering a 10% credit up to $8,000 to qualified first time home buyers.

Unlike in the past, not only are the rates low, but the prices are also affordable, making a great time to buy. With the spring season right around the corner, inventory will grow as well. Even if you already own a home, though you’re house may be worth less than you would like, the bigger home you want to buy is going to be more affordable as well, so its all relative.