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.