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10 reasons to buy a home in Hawaii Now

Thinking of buying a house in Hawaii? Should you wait? Is the market going up or down? Here are 10 reasons to buy now!

1 - Prices around the country and in Hawaii have gone down for several years now. No one can predict the future, but you're definitely not buying at the top!

2 - Hawaii is running out of space. The buildable land in Hawaii is getting harder to come by, which means less new houses, which means at some point, demand will outpace supply to a huge degree. One day when the state says we are done building, what will prices do? You guess.

3 - Interest rates are very low! Buying a house now could save you thousands of dollars in monthly payments, and in the day to day, isn't the monthly payment what we really feel in our wallets? Equity is nice, but it does nothing for our monthly budget. Don't wait till you have to pay 9% on a loan.

4 - Renting gets you nothing. You earn nothing, you have no equity, there is no tax write off. Mortgage interest is a great deduction on your 1040's, while rent is... rent.

5 - If you're planning to live in a house long term, you can ride out any market fluctuations. As long as you're not trying to flip a house after a year, you don't need to time the market.

6 - Stocks are doing nothing. The Dow and the NASDAQ are down over the last 10 years! And you can't live in a stock.

7 - Your family will feel more at home. I've lived in rentals and in my own homes, and I can tell you one thing for sure, pride of ownership, that feeling that it's your own home - there is value that is beyond just dollars.

8 - Ownership gives you control of your future. Recently more and more landlords are selling off their properties to pocket their equity. In fact I just sold a rental for a landlord, in this case, to the tenant. Of course the tenant wished that he could have bought it 5 years ago for half the price. Is your landlord thinking of selling? Then where will you go? Owning the house assures you that you can stay put.

9 - If the value of homes stays flat, you still earn equity. The great thing about mortgage payments is that a part of it goes to you. It's the most automatic savings plan out there. Even if the home loses some value, your monthly payments can gain you equity in the house faster than the value can drop. Eventually (30 years?) you will own the property free and clear - RENT FREE! So who cares what the house is worth, one day you will have no rent!

10 - There's more selection now than there has been a long time. With more homes on the market, buyers are able to make offers under the list price and choose from a wider selection of inventory.

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