It is a buyer's market. But if you want to purchase a home to resell it in a year or two for a big profit, no it is not a good time to purchase a home. On the other hand, if you are in it for the long-haul, it is a good time buy. Interest rates are lower than they have ever been. And, if you are a first-time home buyer, there are additional incentives.

But then the bigger question needs to be answered. And that is, "Why do you want to purchase a home?" Is it because you want to have status above your friends from high school, or is it because you want a solid investment?

Well, I need to tell you that if you are wanting to purchase a home because you want a good investment without playing the market, there is probably nothing better you can do. In fact, it is absolutely necessary if you want the best retirement you can have.

Think of it like this, if you have a home paid off by the time you retire, you will be in much better position than someone who had never owned a home. You will no longer have a rent or mortgage payment.

But when you do retire, the home you purchase will probably be more home than you need. And if that is the case, you can sell it and purchase—with cash—a lesser home, and then turn the difference into an interest bearing opportunity.

But even if you want to stay in the home you own at retirement, it gets even better. If you purchase a home now, you can—if you do it right—pay your home off in a fraction of the regular 30 year mortgage. Then you can have up to 20 years or more to build an interest bearing retirement savings.

For example, if you have purchased a home with a $600 monthly mortgage payment and you pay it off in—even if it would be 15 years, and you then turn and place your mortgage payments into a savings account, you would have saved $108,000.00 by the original time your mortgage would have ended. And $108,000.00 is not considering the compound interest you could be earning during those 15 years.

So add it up. If you purchase a home when you are 30 years old, and say you pay off your house in 15 years (and you can most likely pay it off in almost half that time), you will be 45 when you own your home outright. Then if you save your mortgage payments for another 15 years, you will not only own your home outright, but you will also have 15 years of saving and earning interest on your mortgage payments by the time you are 60 years old.

Therefore, it certainly is a good time to purchase a home. Because if you combine the savings of your 401(k) plan, the benefits of owning a house outright before you retire, and the possibility of saving the money you would have spent on a mortgage payment until you do retire—that is the way to go!

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