The advantages of owning a home can be both tangible and intangible.  There are few that would argue that owning a home is a bad idea over renting.  As in every real estate transaction careful analysis and thought should go into your home purchase.

Here are a few reasons why we should help more teachers become homeowners.

Pride of Ownership. Owning your own home can increase self-esteem and personal pride. The satisfaction that comes from feeling connected to the land you occupy and the home in which you live is ages-old. Few accomplishments in life are as enduring or enriching as the experience of owning in your own home.

Family Stability. Almost half (43%) of all homeowners stay put for eight or more years (according to the 2005 National Association of REALTORS® Profile of Home Buyers and Sellers). By living in one place for an extended period of time, children are more likely to be raised in a stable environment. Advantages of this include a consistent educational experience, ability to form long-term relationships, and the child's overall emotional security.

Real Estate Appreciation. No one can guarantee if or how much a property will appreciate. If the value of your home increases to the point where you can sell it for more than your purchase price, that difference in value is called appreciation. You can reinvest that appreciation in other real estate or you may want to downsize and keep the value of that appreciation for retirement or other purposes.

Building Equity. When you own your own home, you "pay rent" to yourself instead of a landlord. Most homeowners pay for the property by obtaining a mortgage. As you pay off that mortgage, your equity builds and you gain an increasingly larger share in a valuable asset.

Sweat Equity. Homeowners are free to redecorate, remodel and accessorize a home to suit one's taste and lifestyle. The benefits of homeownership are not only that you have the right to make improvements but that the value of those improvements becomes yours as well.

Redused Tax Benefits.  Mortgage payments have their benefits. Most home mortgage interest, mortgage insurance and property taxes are usually tax deductible.  Depending on your circumstances, you may save a considerable amount in taxes. Of course, you should always consult a CPA.

Privacy. While there are usually some limits on the access that landlords have to property, almost all landlords can access your property for necessary inspections and maintenance. Homeowners, on the other hand, generally have much stronger property rights and experience an increase in perceived and actual privacy.

Good luck teachers.

     Troy Schuricht

7575 E Redfield Rd   Suite 235

Scottsdale, AZ  85260

480-305-8905 - office

480-393-8801 - fax

http://www.communityfirstfinancial.com/

wwww.teacheraplus.ning.com

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