If you've considered the benefits of buying a home, and you are like most first time buyers, you've probably

had reservations about whether buying a home is right for you.

The more you know in advance about buying your first home, the easier the whole process will be for you.

Here are five great reasons why you should buy a home now:

Property Appreciation:

Even though real estate moves up, and then down, over a period of years real estate has consistently

appreciated, and many who purchase their home consider their investment as a hedge against inflation.

Property Tax Deductions

Real Estate property taxes paid for a first home and a vacation home are fully deductible for income tax

purposes. Read what the IRS has published regarding tax information for first-time home buyers.

Mortgage Interest Deductions

Our tax rates highly favor those who own their home. Mortgage interest is fully deductible on your tax return, as

long as the balance on your mortgage is smaller than the price you paid for your home.

Paying Your Mortgage down Will Build Equity

Part of your monthly payment goes directly to the principal balance on your loan, and reduces your obligation.

Every payment that you make reduces the interest on your loan, and increases the amount that is paid toward

your principal balance. As the amount of your interest decreases, and the amount you pay toward principal

increases, the amount of equity you have in your home builds.

The Pride of Owning Your Own Home

This is the main reason people want to own a home. You have the freedom to make the choices you want,

whether it is wall colors, landscaping, or decorating how you see fit.

Owning a home gives a sense of security, and stability. You are investing in your future.

For more information, and to download IRS tax information on home ownership - visit http://activerain.com/blogsview/273539/First-Time-Home-Buyers

While there are many options out there for home buyers, I have listed some of the common mistakes smart people make when buying their first home.

Mistake #1

Not knowing how much they can afford before they make an offer.

The easiest way to avoid this mistake is to get pre-approved for a mortgage, so you know in advance exactly how much you can afford.

Mistake #2

Not realizing in advance whom the real estate agent represents.

When you call the agent on the sign in the yard, that agent most likely is working for the seller. So beware that any information you give that agent may be used against you in negotiations with the seller. The best way to avoid this conflict is to find an agent willing to work with you as a Buyer's Representative. Ask about our Buyers Agreement with NuEra Realty.

Mistake #3

Not discovering hidden defects before they buy a home.

One of the most expensive mistakes is also one of the easiest to avoid, by having a professional do a whole home inspection before buying the home. Even if the home is new, we recommend full home inspections to avoid any problems in the future.

Mistake #4

Giving a Social Security Number out to several different mortgage companies while shopping for rates.

Before you give out your personal information, decide which lender you would like to work with. Credit inquiries may affect your credit rating and have a negative impact on loan amount, interest rate, etc. There is a two week window in which you can shop for loans. Check with your lender concerning this matter.

To avoid these mistakes, and to have a better understanding of the home buying process, contact me @ alecia@nuerarealty.com for a FREE homebuyer booklet that will explain the home buying process in simple terms, and show you how I can help make the process of buying your first home a much smoother process.

www.albanyoregonrealestateagent.com