There are many advantages to owning your own home. I want to take an opportunity to spread the word about just a few.

1. Tax breaks. When you own a home, the U.S. Tax Code lets you deduct the interest you pay on your mortgage, your property taxes, as well as some of the costs involved in buying your home.

2. Appreciation. Real estate has long-term, stable growth in value. While it is normal for prices to fluctuate some from year to year, average existing-home sale prices have increased on average 6.5 percent each year from 1972 through 2005, and increased 88.5 percent over the last 10 years, according to the NATIONAL ASSOCIATION OF REALTORS®.  The number of U.S. households is also expected to rise 15 percent over the next decade which means there will be a continued high demand for housing.

3. Equity. Money paid for rent is money that you’ll never see again, but mortgage payments let you build equity ownership interest in your home.

4. Savings. Building equity in your home is a ready-made savings plan. And when you sell, you can generally take up to $250,000 ($500,000 for a married couple) as gain without owing any federal income tax.
5. Predictability. Unlike rent, your fixed-mortgage payments don’t rise over the years so your housing costs may actually decline the longer you own your home. Keep in mind, however, that property taxes and insurance costs will increase.
6. Freedom. The home is yours! You can decorate any way you want and benefit from your investment for as long as you own the home.
7. Stability. Staying in one neighborhood for a few years gives you a chance to participate in community activities, lets you and your family establish lasting friendships, and offers your children the benefit of educational continuity. To calculate whether buying is the best financial option for you, use the “Buy vs. Rent” calculator at www.GinnieMae.gov.   As always please let me know if you have any questions about owning your own home or if you are ready to start looking. I look forward to speaking with you. Have a great day!  
Posted by Help Now on
Email Send a link to post via Email

Leave A Comment

e.g. yourwebsitename.com
Please note that your email address is kept private upon posting.