Homes Increase in Value Through Appreciation
Financially, home ownership has always had it’s benefits. Although, the real estate market can go up and down, for the most part over time, homes increase in value. Of course, the better a home is maintained the more value it will have. But even homes that have not been well cared for have been known to appreciate over time.
Other Financial Benefits of Home Ownership
Other financial benefits to home ownership are tax savings and the building of equity. Home owners reap the benefits of tax deductions for interest, local property taxes and other home expenses when filing their taxes. Purchasing a home is also financially more beneficial than renting as your mortgage payment is going directly towards paying off your mortgage and building equity in your home. In comparison, when you rent a home your monthly rent payment goes directly into the landlords pocket or makes payments towards his mortgage. In effect, renting a home benefits the owner and not the tenant.
Home is Where the Heart Is
Other benefits to homeownership have to do with how owning a home makes you feel. When the home you live in is yours, you have a sense of pride of ownership. You can make changes, update and make the home match your personality. You tend to live there longer and get to know your neighbors. Many families own their homes for a lifetime and home becomes a place where grown children come back to visit, bringing their expanded families to share beautiful family memories. As the old saying goes, “Home is Where the Heart Is.”
Purchasing a Home is Easier than You May Think
If you are renting a home and want to know more about how you can purchase a home of your own, give me a call and let’s talk. I have worked with many first time homebuyer’s over my years as a Realtor. Often, I find, that many first time buyers have not purchased a home earlier because they did not know it was possible. The process can be complicated and depending upon your specific needs and situation, it may take some time and planning. It is easier than you may think. It is definitely possible for you too, to become a home owner!
Give me a call anytime, seven days a week, between the hours of 7am and 10 pm. I am always happy to serve as your Real Estate advisor.