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The Top Seven Benefits of Home ownership
Should you rent or buy? Pros and Cons...
A Home in Legend Oaks, Summerville SC
Homeownership brings with it many responsibilities, and when you are fixing your own plumbing or a leak in the roof, you might look more fondly on your rental days. Then tax time rolls around and reminds you of the real benefits that come with owning your own home. Here are the top 7:
1. Don’t Let the Recent Market Fool You - Homeownership Still Builds Wealth
The bursting of the real estate bubble has shaken everyone’s confidence in homeownership. The mistake was that people bought more house than they could afford. It does not change the fact that responsible homeownership can still build wealth. Buy what you can afford and stay with that home for the long run for the best return.
2. Equity - Need We Say More?
Equity is the amount of money you can sell your home for minus what you still owe on it. As you pay your mortgage over the years the principal portion of your payment increases slightly every month year after year. It’s lowest on your first payment and highest on your last payment. Thus, as the months ... more
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