Despite what Wall Street wants you to believe, owning a home isn't the same kind of investment as stocks and bonds. What you get is a USE asset that depreciates over time, while it grows in market value. All you have to do is keep the home in good repair to max out your take.
Here are 5 Reasons why you get more for your money with a house than a worthless sock puppet:
LEVERAGE:with stocks, you put in all your money for a little piece of a company. With a house, you put in a little money to get all of the house
TAX BENEFITS: Uncle Sam knows that owning a home is a pain in the neck, that's why you get subsidies. These are basically government bribes to get you to buy. What other investment can you put in 5 % of the cost of the asset, reap all the appreciation and pay no capital gains? That's right:live in your home for 2 years, rent it for three, sell it, and pay no tax on capital gains up to $250,000 for singles, $500,000 for married couples. And you're worried about paying TOO MUCH?
And that's not all - think about the benefits of fixed -rate mortgage, property tax write-offs, interest rate deductions, depreciation. Is this a great country or what? Control: When you buy stocks, your paying some CEO 500 times the average worker's salary for results you'd lose your job for. With a home, you have control - what you buy, how much you pay, and where you live. You can improve the value with repairs and updates. Compare that to getting heard at the next shareholders' meeting.
Lifestyle:Do you want to look at a dumpsite or your children playing in their own back yard? With a home, you are purchasing a vantage point for yourself and your family. The neighborhood you want to be in, the size and style home that fits your need and budget. And the more wisely you choose, the better off you are. That is why having a good Realtor and a "Personal Mortgage Consultant",becomes another important part of the process.
So the next time a buyer thinks only about Sales Price - show them this and have them call me.
Note: Realtors, don't forget about my free marketing system. RECAMP by Hobbs / Herder. call,e-mail or click today! Comments are always appreciated.