Are There Advantages in Home Ownership?

Home ownership is a durable investment.  If a informed choice is made when buying a home, that real estate investment will appreciate in value for decades, and the monthly mortgage payment becomes a solid form of savings.

Numerous tax advantages are currently available to homeowners.  Home ownership works for you even as you live in your home.  The thousands of dollars you pay in mortgage interest is deductible.  This year, Congress decided to allow deductions of any PMI that you pay.  You are also allowed to deduct the property taxes that you pay..

As you accumulate equity in your home, you will later have a good down payment on hand to “move-up” to another home.

Home ownership offers you the opportunity to take control of your housing costs.  Mortgage payments (even on adjustable-rate mortgages) are predictable.

Owning your own home allows greater freedom in choosing your community, style of home, interior decor, appliances, degree of privacy, and financing that best suits your situation.

Some buyers today have had their desire to buy dampened because they think they can’t: due to poor credit, no money, etc.  Today’s market offers attractive and innovative financing... so it is time to benefit from the main advantages of owning a home. 

TAX BREAKS:  A person’s taxable income is reduced by tax deductions.  Buying a home allows for deductions of interest payments, points, real estate taxes, as well as other.  This means that you are paying less taxes and using the money for your home.

LEVERAGE:  Leverage means using other people’s money to control a property and receive its benefits.  Suppose you put down $10,000, and suppose the property appreciates 10% in the first year, making the house now worth $110,000 and you paid $100,000.  You earned $10,000 back, now having an equity of $20,000.  Many high-end buyers put as little into the home that they can so they can use their money for other purposes, such as investing in the stock market.  If you do put money into your home, you can get an equity line and put your car on it, lowering that payment and creating a potential tax writeoff.

SAVINGS:  Mortgage principal payments go into your own pocket, not a landlord’s.  You are saving and building equity as you pay for a home that’s appreciating in value.  But you must buy smart.  Our up-to-the-minute market research will help you buy smart.

OWNER PRIDE:  The fourth pillar of homeowning involves many things besides keeping a roof over your head.  You acquire, along with the structure, the responsibility for maintenance and repair.  Most find the benefits of owning far outweigh the upkeep efforts and enjoy the work.  You also put down roots and become more involved in the community.  In short, you own an investment that builds intangible riches while you lock in your housing costs.