Many people want to buy a home in Modesto, but have you ever thought about why?

Really…

Anybody can throw out a few reasons here and there and then fail to really explain the benefits behind them. Here’s the real question… Are there really any good reasons?

What reasons are there that convince you to buy a home in Modesto?

I could go through a long exhaustive list of different reasons of why you should buy a home. In fact, I could probably come up with hundreds of reasons if I really drill it down to specifics.

The truth is that a list like that would suck to read. So, I’ve pounded it down to 6 main reasons to buy a home. Three logical reasons for you analytical types, and three emotional reasons for those of you with your heart on your sleeve.

Logical Reasons

There are three main reasons that make it the logical decision to buy a home. These are:

• Forced savings
• Tax advantages
• Appreciation

Now I know that there are lots of different kinds of tax advantages to buying a home. I also know that there are tons of different types of appreciation, but everything basically falls under these big three.

1. Forced Savings

When you’re renting a home, the money that you pay each month towards your rent simply disappears into thin air. Well, not really thin air but it’s pretty safe to say that you’ll never see it again.

When you choose to buy a home, it works a little different.

Every time you make a payment on a house that you’re buying, some of that money gets credited to your equity. Your equity is essentially money in the bank.

So, every time you make a payment on your house, what you’re really doing is putting money in a savings account.

Now granted, not every bit of your payment goes towards your equity. Some of your payment, especially at the beginning of your loan term, goes towards interest.

Interest is money that goes to the bank as their “profit” for lending you the money. Mortgage interest is not applied to your equity savings account, but it doesn’t just disappear like rent either.

This brings us to…

2. Tax Advantages

Can buying a home in Modesto give you a raise?

One of the other great things about buying a home is that your mortgage interest payments will be tax deductible, as well as your real estate taxes.

When tax time rolls around, you can bet that there will be a little more juice inside that refund check you get from the IRS. Even if you pay taxes every year, buying a home will help you lower that bill a little bit.

You can also talk to a CPA about how you can spread that extra cash out across the year.

Buying your dream home in Modesto can literally give you a raise! For some people, this “little” raise could add up to a couple hundred dollars a month!

On top of all the other tax advantages, making income on your home through appreciation is often tax deductible –  the money you make on your home is tax free!!! Sweetness.

One important fact to look at is that today’s extremely low interest rates do water down some of the tax advantages. But on the other hand, lower interest rates means lower monthly payments and I just can’t see any complaints coming from that.

3. Appreciation

Appreciation is simply when the value of your home goes up.

Over time, the value of homes has historically gone up, but let’s face it. Recently we’ve seen free-falling prices in the housing market, and even now it doesn’t seem like home prices will be on the rise anytime soon.

I do believe that home prices will eventually creep up within the next several years, but the good thing is that you don’t have to rely entirely on the market.

You can force your appreciation. Here’s how.

Follow that simple plan above and you could net an increase in value of 20k, 30k, even 50k dollars!

Emotional Reasons

Aside from the three logical reasons to buy a home, there are also three main emotional reasons to buy a home:

• Pride of ownership
• Stability and Security
• Freedom

While buying a home on it’s logical merit is a good idea, the most important reasons are based upon the emotional benefits of home ownership.

Seriously, buying a home needs to stop being looked at as so much of a financial investment (unless you’re an investor and it is an investment) and start being looked at as a place to grow, a place to enjoy, and a place to create lasting and loving memories.

Let’s take a deeper look at some of the emotional benefits of home ownership.

4. Pride Of Ownership

When it comes down to it, you should be proud to be buying a home.

It’s really a huge accomplishment to get to the point you’re at right now, and to be considering buying a home in Modesto.

Look… the truth is that you’ve obviously worked extremely hard to get to the point of buying a home. Pretty soon that hard work will pay off and you’ll be the proud new owner of your perfect dream home.

It’s simply amazing to know that you’ll own your own little piece of this great country. You will have your own little chunk that you worked hard for, and you earned.

Owning a home is almost like your personal trophy for being a great, honest, and hard-working American.

The pride of owning a home simply cannot be overlooked.

5. Stability And Security

Right now, you may be wondering, “How is owning a home more secure and stable than renting?”

That’s simple.

The only person that you have any control over in this world is yourself.

There’s no doubt that you’ve heard good, honest renters who paid their payments faithfully every month, only to find out that the owner hasn’t paid the mortgage in over a year.

People like that are being evicted every day!

When you’re the one paying the mortgage, you know that it’s getting paid every month.

How about rent prices?

How much did your parents pay for rent and how does that compare to what you’re paying now? Rents go up over time and they’re going to keep going up over the long term.

That won’t happen with your mortgage payments, granted that you were smart and got a fixed rate mortgage.

Even through the turbulence of inflation and rising costs of everything around you, you’ll find security knowing that your mortgage payment will never change.

On top of everything else, how about if a time comes when, God forbid, you can’t make payments for a couple months? Will your landlord be sympathetic and let you catch up when you get back on your feet?

Who knows?

If you own a home, at least you know that you’ll have the option to do a reinstatement or a forbearance plan to catch back up on your home payments.

6. Finally Freedom

Isn’t freedom such a comforting word?

When you own your own home, you never have to worry about whether the landlord is going to like this or like that.

There won’t be any more periodic walks through, and no more condescending remarks from your rental management company.

If you like wood floors you can put in wood floors, and if you like the color avocado, then for God sakes you can paint your house avocado. (PS- My house is avocado and I can’t stand the color but to each his own )

No more asking for permission like a little kid when you want to do something, and no more being told to put it back the way it was.

The truth is, FREEDOM KICKS BUTT…

Come get some!!!

Here’s What You Can Do Next

Before you buy a home, you need to know a little bit about the local Modesto real estate market.

And there’s no better way to know the market then getting out there and looking at some homes. So here’s what you can do right now.

Click the link below and join me for a tour of homes in Modesto.

We’ll take a look at some of the most popular homes, price ranges, and neighborhoods so you can get a good idea of the local real estate market. Just follow the link below to send me an email, or you can call me on my cell at 209-818-7038.

Click here to join me for a tour of homes for sale in Modesto.

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This article was originally posted over at Lovely Modesto Homes.

6 Simple Reasons Why You Should Buy A Home In Modesto

Visit the The Lovely Modesto Homes Website for tons of Modesto home buying and home selling information.