Tax Incentives - The United States Tax Code allows a deduction for the interest paid on a mortgage, the property taxes paid, and some of the actual costs involved in the purchase.
Appreciation - Since 1989, home prices, nationwide, have increased at an average of 5.5% annually. Though there's no guarantee of continued appreciation, it's been estimated that, through price gain, and reducing mortgages through payment of principle, a typical homeowner has $144,000 in equity in a home based on data provided by the Federal Reserve.
Equity - Money paid for rent is money that you'll never see again, but mortgage payments allow you to build equity through ownership interest.
Investment - Building equity in your home is an ideal investment vehicle. In addition to leverage, sellers can generally take up to $250,000 ($500,000 for a married couple) in capital gain, free of federal income tax.
Certainty - Fully amortized, fixed rate mortgage payments simply don't escalate, unlike rent, and over time and housing costs may actually decline.
Choice - As the homeowner, you're able to decorate in any way you like and benefit from any improvements you make, as long as you own the property.
Stability - Remaining in one neighborhood for several years allows one the opportunity to participate in community activities, lets you and your family establish lasting friendships and affords your children the benefit of educational continuity.
If you happen to know someone considering buying or selling, now or in the near future, please be sure to tell about our extensive and content rich real estate and relocation websites...
Thanks in advance.
With our highest regard,
Wayne and Lynda Gomillion | "The Pinehurst Home Team"
"The friendship and referrals of those we serve is the foundation of our success."
© 2006. Source REALTOR Magazine Online
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