Maggie Coakley

LICENSE: 475.133661


(847) 778-4425
(847) 495-5000 (Office)

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Benefits of Owning a Home

Posted On: March 7th, 2017 2:40PM

 

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.

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