Deciding whether to buy or rent? Now may be the best time to own a home. Home values have sustained growth over the years and there is no better financial investment. Learn about the advantages of home ownership below.
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TAX SAVINGS favor home ownership
- A significant portion of your mortgage, interest, and property taxes are tax deductible, as is the capital gains on your home (at age 55).
A Home Provides Excellent LONG-TERM VALUE
- Home values have sustained growth through the years. There is no better financial investment than home ownership. It's best hedge against inflation. Your "guarantee" of the increased value of real estate is the only commodity in the world which is absolutely limited in supply. The growth in population constantly increases its demand.
- You choose the style of the structure, landscaping, colors, furniture and decor. Since you are the landlord, the freedom to arrange or rearrange things to suit your needs is limited only by your creativity and imagination.
- Your home is your castle, the place where you can enjoy the many facets of your personal lifestyle. It can be the center of activity or a quiet refuge. It's more than a place to eat and sleep; your home is an integral part of your lifestyle.
- Security and knowledge go hand in hand with home ownership. Your feeling of security will be enhanced by the knowledge that your home, a major investment of a lifetime, is a safeguard against inflation. As time passes, a smaller share of your earnings will go towards this housing expense. Owning a home is the beginning.
- You establish roots because your home makes you a part of the community. Your neighbors are homeowners too, often with backgrounds much like your own.
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