Reasons to own a home


 

 

THERE’S NO PLACE LIKE HOME

Owning your own home offers you not only safety and security, but also a comfortable place that allows you to relax after a long day.

 

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.

 

SAVINGS

Building equity in your home is a ready-made savings plan. And when you sell, you can generally take up to $250,000 (or $500,000 for a married couple) as gain without owing any federal income tax. Why pay someone else mortgage?
Rent keep increasing and mortgage does not.

 

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.

TAX BENEFITS

The US 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.

 

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 percent on a cumulative basis. In addition, the number of US households is expected to rise 10 to 15 percent over the next decade, creating continued high demand for housing.

 

 

BOTTOM LINE

Whether you are a first-time homebuyer or a move-up buyer who wants to start a new chapter in your life, there are tangible and intangible factors that make a house
a home.

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