Having over 20 years of Real Estate experience, I want to share with you some of the reasons why I feel homeownership is the way to go.
Financial Benefits of Owning of Home
Long term mortgage is cheaper to pay off than to rent. Interest payments on a home loan gets less over time, thus building wealth and equity over the years.
Unlike rent, a fixed mortgage can’t go up (even if inflation does). By locking in on current low interest rates you will be taking a big step in protecting your family against inflation.
Capital gain benefits are an important tax savings on the eventual sale of a home. Currently, married people are exempt up to $500,000 and singles up to $250,000
Property tax is also fully tax deductible.
Social Benefits of Owning a Home
One study by NAR (National Association of REALTORS®) demonstrated how the American Dream of owning a home leads to positive changes in our physical, emotional and mental health.
Children of home owners feel more secure as they do not move around often making it more likely that they succeed in school.
The sense of belonging to a neighborhood or community leads to more participation in groups and organizations while contributing to positive outcomes and making a difference.
I always enjoy hearing from buyers and sellers that have questions regarding real estate and related areas. So feel free to contact me, you can be assured I will listen and have your best interests at heart.