Richfield Home Buyers: Benefits of Owning a Home... by Twin Cities Homes for Sale

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Real Estate Agent with Coldwell Banker Burnet Realty MN Broker# 20588319

Richfield Home Buyers: Benefits of Owning a Home... by Twin Cities Homes for Sale

 

Benefits Owning a Home


1. Tax breaks. The U.S. Tax Code lets you deduct the interest you pay on your mortgage, your property taxes, as well as some of the costs involved in buying your home.

2. Appreciation. Real estate has long-term, stable growth in value. While year-to-year fluctuations are normal, median existing-home sale prices have increased on average 6.5 percent each year from 1972 through 2005, and increased 88.5 percent over the last 10 years, according to the National Association of Realtors®.  One could argue, based on depreciation that has affected millions of homeowners in recent years, that real estate is a poor investment.  However, making smart financial choices (no matter what the economy) and buying a home that has potential for equity growth will give you a sound foundation.  In addition, the number of U.S. households is expected to rise 15 percent over the next decade, creating continued high demand for housing.


3. Equity. Money paid for rent is money that you’ll never see again, but mortgage payments let you build equity ownership interest in your home.

4. Savings. Building equity in your home is a ready-made savings plan. And when you sell, you can generally take up to $250,000 ($500,000 for a married couple) as gain without owing any federal income tax.

5. Predictability. Unlike rent, your fixed-mortgage payments don’t rise over the years so your housing costs may actually decline as you own the home longer. However, keep in mind that property taxes and insurance costs will increase.

6. Freedom. The home is yours. You can decorate any way you want and benefit from your investment for as long as you own the home.

7. Stability. Remaining in one neighborhood for several years gives you a chance to participate in community activities, lets you and your family establish lasting friendships, and offers your children the benefit of educational continuity.

 

 

Contact Marzena M. Melby, GRI, CDPE, Keller Williams Integrity Realty. Licensed REALTOR® in the state of Minnesota

 Visit my website to search homes for sale in the Twin Cities and surrounding areas.

Disclaimer: The information provided herein is supplied by several sources and is subject to change without notice. Twin Cities Homes 4 Sale Blog does not guarantee, or is any way responsible for its accuracy, and provides said information without warranties of any kind, either express or implied. Entries on Twin Cities Homes 4 Sale Blog represent the opinions and ideas of the author. Twin Cities Homes 4 Sale Blog does not express the views of Keller Williams Realty, or its other partners or agents.

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Suzanne McLaughlin
Sabinske & Associates, Inc. (Albertville, St. Michael) - Saint Michael, MN
Sabinske & Associates, Realtor

Good news for any homebuyers in this market.   Keep up the good work!

May 23, 2011 03:58 PM #1
Rainmaker
210,106
Marzena Melby
Coldwell Banker Burnet Realty - Richfield, MN
Realtor, Twin Cities Minnesota Real Estate

Thanks, Suzanne.  Glad you stopped by.

May 25, 2011 06:59 AM #2
Rainmaker
1,977,512
Tom Braatz Waukesha County Real Estate 262-377-1459
Coldwell Banker - Oconomowoc, WI
Waukesha County Realtor Real Estate agent. SOLD!

Marzena

Indeed there are many benefits to owning a home these days and in the present day it can be many

Sep 01, 2011 03:23 PM #3
Rainmaker
1,977,512
Tom Braatz Waukesha County Real Estate 262-377-1459
Coldwell Banker - Oconomowoc, WI
Waukesha County Realtor Real Estate agent. SOLD!

MARZENA

nOW IS THE TIME TO BUY A HOME IN TJIS ECONOMY

Sep 01, 2011 03:25 PM #4
Rainmaker
210,106
Marzena Melby
Coldwell Banker Burnet Realty - Richfield, MN
Realtor, Twin Cities Minnesota Real Estate

Tom,

Yes, my buyers have been able to negotiate very "sweet deals" in the recent months!!!

Sep 06, 2011 12:25 AM #5
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Rainmaker
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Marzena Melby

Realtor, Twin Cities Minnesota Real Estate
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