5 Reasons Homeownership Makes ‘Cents’

The American Dream of homeownership is alive and well. Before you sign another lease, let’s get together to help you better understand all your options.

Reason #1   Forced Savings

As you pay your mortgage monthly, you will be paying toward principle and interest.  As you make more payments, the principle balance decreases which is considered savings.

Reason #2   Tax Savings

Many homeowners have at least one thing to look forward to during tax season: deducting mortgage interest. This includes any interest you pay on a loan secured by your primary residence or second home. This means a mortgage, a second mortgage, a home equity loan or a home equity line of credit, or HELOC.

Reason #3   Lock in your monthly housing Costs

When you are leasing a property, you are paying your landlords mortgage.  Your landlord may increase your rent yearly depending on his costs, taxes, insurance and mnore.

Reason #4  Less expensive than renting

In many instances due to rising rental costs, it is cheaper to own your home

Reason #5  No other investment lets you live INSIDE

While you are living in your home (investment) you are building equity.

 

Posted on March 30, 2019 at 7:32 pm
Becky Meyer | Category: Buying | Tagged , , , , , , ,

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