Top Reasons to Own a Home-
Buyers all across the nation are making their dreams come true. They’re signing on the dotted line and grabbing hold of the keys to a family home. Despite record low interest rates, many potential buyers are delaying the decision to buy. What’s keeping you on the sidelines?
Let’s take a look at the top reasons to own a home.
Building equity. Writing a check to the landlord is like lining their pockets with your potential equity. It is money you never get back. Owning your home means building equity. Each and every mortgage payment is going towards paying down part of the principal.
Predictability. Gas and grocery prices may rise, but a fixed rate mortgage is as predictable as they come. Your mortgage payment will be X amount for the life of the loan.
Tax Breaks. Did you know that you can deduct the interest you pay each year on your home? You can deduct the cost of your property taxes. Even making energy efficient upgrades can be tax deductible.
Appreciation. Over the years (real estate is a long term investment) your home should gain value. According to the National Association of Realtors (NAR) “The number of U.S. households is expected to rise 15% over the next decade, creating continued high demand for housing.”
Social Benefits. We’ve talked about the financial benefits of owning a home, but did you know that homeowners generally rate themselves as being happier and healthier than their renting counterparts? Part of this is thanks to the stability that homeownership brings. Homeownership can be a great way to secure future financial security and freedom. So, what’s stopping you from getting into the market? There’s never been a better time to buy! exert from realtytimes.com
For tax, investment or ownership advice we suggest you contact an attorney or certified public accountant. All information deemed reliable but not guaranteed.
Feeling inspired? Tired of renting? Want to paint that wall hot pink? Give us a call for a no pressure overview on what it takes to get started down the path to home ownership in the Temecula Valley. We’ve been helping people just like you for 18 years!
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