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The 5 Greatest Benefits of Ventura County Homeownership #TimeToSell
Your home is probably the biggest asset you own. This is why you should hire a professional to guide you through all your real estate transactions.
Recently, Freddie Mac reported on the benefits of homeownership. According to their report, here are the five benefits that “should be at the top of everyone’s list.”
Homeownership can help you build equity over time. Your monthly payments will remain stable. You may have some tax benefits. You can take pride in ownership. Homeownership improves your community. Let’s expand on each of Freddie Mac’s points:
Homeownership can help you build equity over time. Every three years, the Federal Reserve conducts a Survey of Consumer Finances in which they collect data across all economic and social groups. The latest survey, which includes data from 2010-2013, reports that a homeowner’s net worth is 36 times greater than that of a renter ($194,500 vs. $5,400).
In a Forbes article, the National Association of Realtors’ (NAR) Chief EconomistLawrence Yun reported that now the net worth gap is 45 times greater.
Your monthly payments will remain stable. When you purchase a home with a fixed rate mortgage, the majority of the payment (principle and interest) remain constant. On the other hand, rents continue to skyrocket. Your housing expense is much more stable if you own ... more
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