If you’re like most first-time home buyers, you may still be wondering if buying a home is the right thing to do. The more you know why you should purchase a home, the less reluctant you may be to make the move.
PRIDE OF OWNERSHIP is usually the main reason why people desire to buy. This means that you can paint the walls any color you wish and attach permanent fixtures as you decorate your home based on your specific taste. Home-ownership give you and your family a sense of stability, security and it is an investment for the future. Further, your mortgage serves as a type of scheduled savings plan. Over time you will gradually build equity, which is an ownership interest in the property. Renters are simply contributing to the equity of the landlord’s property instead of their own.
If you’re currently looking through the internet for a home, feel free to contact me. I will refine your internet search and tailor it to your needs.
Home purchasing is a very big decision and since everyone has a different reason why they are considering this route, by calling for a FREE consultation, I can help you decide if now is a good time for your specific needs.
WHEN YOU BUY:
- Mortgage Interest and property taxes are tax deductibles
- Potential tax-free capital gain / equity build-up
- Emotional satisfaction and pride that you have accomplished a milestone.
WHEN YOU RENT:
- Rent is NOT tax deductible.
- No Equity for you, only your landlord.
- Annual rent increase could outpace inflation.
- It’s someone else’s milestone.