A homeowner is referred to as a person who owns a house for at least five consecutive years. While the tax credit has been extended and expanded, many people are seeking to buy a new home. Let's have a look of the essential details you need to know about buying a house.   The traditional and most favorite way of investing money is through real estate. Everybody has the opportunity to get a home because of the wide selection available. A lot of homeowners are selling their properties to make for a living. There is never a day without a house sale. Due to the wide choices, you can look a variety of properties than range from affordable cost to expensive price. It is not only that you can find affordable homes. The mortgage rates are also low and tax is even advantageous. Any buyer of a house can deduct the cost of mortgage loan interest as well as property taxed.   As long as you have the budget to own a new house, there is no difficulty buying the dream home you are looking for. While it is still affordable to get a property, take this chance now and never wait for another year or so.