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Buying Your First Home

The most important motivation to buy your own home is the pride of ownership that one feels once you buy the home. This would mean you can decide what colors the walls should be painted and decorate the interiors according to your taste. Along with this comes a sense of stability and security for your family. Once you have cleared your mortgage, you’ll have no major liability towards your home and it can serve as security to all the future generations of your family.

"Your own home is one the best investments you can make for your family’s future."

Another reason to purchase your own crib is to take advantage of all the tax benefits that come along with having your own property. Your home can act as an ideal tax shelter. Your mortgage interest is fully deductible on your tax return. Property taxes that are paid on a home purchased for the first time are fully deductible for income tax purposes. Thus, this serves as a good tax saver. Additionally, if you decide to sell your home, the profit you receive on the sale is considered as a capital asset if you owned the house for more than a year. Capital assets also get preferential tax treatment.

Additionally, some part of your monthly mortgage payment is adjusted with the principal remaining balance of your loan, thus bringing down your obligation towards the loan.

The real estate market can be volatile and may go up or come down with each passing year. However, it has been consistently appreciating since the last dip. Property prices tend to rise up as time goes by. Thus, your house can prove to be a boon when the market appreciates. Your home can prove to be a good investment against inflation.

Interest rates right now are still historically low. Taking a mortgage loan right now is relatively inexpensive than it would have been 2 years ago. The lower the rate of interest, the lesser you end up paying for your home. This also means you’ll be able to pay off the mortgage faster.

SCHomeSellers.com - Rent to Own and Lease Options on Homes For Sale! You can view all our available properties at Available Homes for Sale and Rent to Own and if you would like to pre-qualify for one of our rent to own homes please complete our online confidential Home Buyer Questionnaire

When renting to own one of our homes in the Charleston SC area, even those with less than perfect credit can qualify!