7 Reasons for Home Ownership

7 Reasons to Own a Home

Making a list of the pros of homeownership versus renting to see if it’s time to buy? Consider these 7 key differences:

1. Acquire Tax Benefits

Homeownership comes with tax deductions. You’re generally able to deduct mortgage interest, property taxes, some homebuying costs, and energy efficient improvements.

2. Watch Your Value Grow

Real Estate is considered a good long-term investment.

3. Build Your Equity

Your payments increase your equity (ownership), building long-term value for yourself instead of your landlord.

4. Grow Your Net Worth

Homeowners generally build more net worth than renters.

5. Enjoy the Control

You’re in control of costs. No one can raise the rent unexpectedly or sell your home without asking you.

6. Feel the Freedom

Paint the walls any color you choose, add amenities that appeal to your lifestyle, and choose the upgrades you want!

7. Experience a Sense of Pride

What could feel better than painting your name on the mailbox, lounging on your own porch swing, and entertaining your friends for a summer backyard barbecue.

When you’re ready to start your homebuying journey, learn what it takes to save for the purchase and chat with our Mortgage Loan Officers to explore what real estate solution might be right for you.

Share

Related Posts