7 REASONS TO OWN A HOME

Dated: 03/18/2017

Views: 338

Owning a Home is an essential part of the American Dream. Now is the the best time ever to fulfill that dream and begin to build equity.

7 Reasons to Own A Home

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

2. Appreciation. Historically, real estate has had a long-term, stable growth in value. In fact, median single-family existing-home sale prices have increased on average 5.2 percent each year from 1972 through 2014, according to the National Association of REALTORS®. The recent housing crisis has caused some to question the long-term value of real estate, but even in the most recent 10 years, which included quite a few very bad years for housing, values are still up 7.0 percent on a cumulative basis. In addition, the number of U.S. households is expected to rise 10 to15 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-rate 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 likely increase.

6. Freedom. The home is yours. You can decorate any way you want and choose the types of upgrades and new amenities that appeal to your lifestyle.

7. Stability. Remaining in one neighborhood for several years allows you and your family time to build long-lasting relationships within the community. It also offers children the benefit of educational and social continuity.

Comment below, to let us know why would you like to become a home owner, or what benefits do you enjoy as a homeowner.

Source: Realtor.ComImage title

Blog author image

Brenda Camacho

Brenda Camacho is a Realtor® with La Rosa Realty - Lake Nona. Focusing primarily on the Lake Nona, Medical City, and surrounding areas. Contact Brenda for all of your real estate needs. ....

Latest Blog Posts

Open Houses Osceola This Weekend

#OPENHOUSEOSCEOLAHere is a list of all Open Houses from the MLS this weekend. Feel free to check out our Featured home too! Location for the featured PropertyBe Sure to consult with your Realtor if

Read More

Why You Should Use A Realtor Same Space Different Vibe

As your Realtor I will help you with your new home search. If you are looking to build a home I will assist you match your taste and style. If you are in a rush, I've been researching the market for

Read More

Customer Testimonial For Allister Lenn La Rosa Realtor

More Happy Customers. It is my pleasure to list and quickly sell your home as well as assist you with the purchase of your new home. Give me a call so I can chat with you regarding your!

Read More