You may wonder whether it is worthwhile to wait to purchase

your home until prices are at their lowest. Prices are not the only

factor that should drive your decision. Currently, interest rates

are at generational lows that greatly improve the affordability of

homes. Further on the annual cost table, you can see that even

if home prices decline, the possible tax savings of owning a

home lead to a lower cost for the buyer, not the renter. Also,

there are special, additional tax benefits for first time home

buyers that may be available for a limited time only. Finally, and

most importantly, when you have made the decision to commit

to homeownership because you are financially ready, market

conditions are a secondary concern. In fact, the NATIONAL

ASSOCIATION OF REALTORS

and Sellers found that more than four in ten buyers purchased a

home because the buyer was ready to make the commitment to

homeownership.