The Benefits Of Home Ownership
The decision to purchase a home is exciting and a major investment for your future. Because there is only so much of it to go around, real estate is the top choice for many investors and the desire for most families. This blog is designed to highlight some of the many benefits of home ownership and how buying a home can often turn the American Dream into a reality.
Rent vs Ownership
One of the most profitable markets in real estate is rentals, which means that many families are paying to live in a home that isn't their own. In some cases, renting a home is necessary. For all others, the money that would be spent on rent could instead be used to pay a mortgage. In fact, monthly rent payments often exceed that of a typical mortgage payment. One of the greatest benefits of home ownership is putting money into something that you can call your own and knowing that the monthly payments are going toward your home's equity.
Speaking of Equity
Many properties experience a growth in value as more development moves into the area or the economy strengthens through an increase in job opportunities. If this happens, home values soar and owners can bask in the glory of their new-found profit. When you purchase a new car, it depreciates the moment that you drive it off of the lot. When you buy a home, however, it has the potential to appreciate year after year. There are few things in life that can offer you a return above and beyond your original purchase price, but a home can.
Happy First Time Homebuyers on Closing Day
Enjoy New Freedoms
When you own a home, you will enjoy the freedom of decorating and making any changes that you choose without needing the permission of a landlord or property owner. In addition, you may even be able to use your home's equity to finance some needed improvements and/or repairs. In some cases, these changes may even increase the value of your home. An upgraded kitchen or bathroom, hardwood flooring or an additional room are examples of changes that could result in added value.
Tax Benefits
Another advantage of home ownership is the tax benefits that are available. The interest paid on a home mortgage as well as most property taxes paid are tax deductible. For additional information on deducting mortgage interest and property tax, consult the IRS or a tax professional.
In addition to providing yourself and your family with a feeling of stability and permanence, home ownership can also help strengthen your credit profile through timely mortgage payments and a steady financial history.
When you are ready to start your home search please give me a call me … Diana Dahlberg, Your Community Real Estate Expert, at 1 MONTH REALTY (262) 657-1171 or visit my Website to see my current available homes for sale as well as search the MLS (Multiple Listing Service) for all homes listed by every real estate agency. Looking forward to working with you!
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