A Few Reasons to Buy:
1)Pride of Ownership It is your Home! It's making an investment in your future. You can do what you wish to the property in a reasonable fashion without a landlord.
2) Appreciation—Although, Real Estate runs in cycles over the years all property tends to appreciate in value. Thus home ownership becomes an investment.
3) Mortgage Interest Deductions—Home ownership is a tax shelter and tax rates favor homeowners. If your mortgage balance is smaller than the price of your home, mortgage interest is fully deductible on your tax return. Interest is the largest component of your mortgage payment.
4) Capital Gains Exclusion—As long as you have lived in your home for two of the past five years, you can exclude up to $250,000 for an individual or $500,000 for a married couple of profit from capital gains.
These are a few reasons to look into purchasing a home if you are a first time home buyer! Talk to your Realtor about more great reasons or talk to me for Greenville, NC!
GreenvilleBuyerAgent
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