3 Financial Advantages to Home Ownership

Top 3 Financial Advantages to Home Ownership:

1) The Mortgage Interest Tax Deduction:

Perhaps the most powerful financial incentive for owning (versus renting) is the home owner’s ability to deduct certain expenses (such as mortgage interest) from their taxable income. You may wonder:
What impact will this have on my financial foundation?

As you can imagine, numerous factors are involved and one size often does not fit all. Please be sure to email me back if you’d like to set some time aside to analyze your situation.

2) Forced Savings - Equity:

If you’re like me, you love any opportunity to build equity in something of value over time. That’s why I believe you’re going to enjoy chipping away at your loan’s principal balance with each monthly payment. Depending on the program you select, you might only see small momentum at first. But over time the percentage you’re contributing toward the equity in your home will continue to grow - as will your feeling of self-worth and satisfaction. To see a specific example of how this momentum will build for you, please be sure to ask me for an amortization schedule for the loan scenarios we analyze together.

3) Long Term Potential for Appreciation:

Let me be clear: there are no guarantees the home you buy will appreciate in value, especially in the short term. In fact, sometimes real estate can actually drop in value. However, if you research the past 75 years of our country’s history, you’ll find that over time real estate purchased properly shows a propensity for long-term appreciation.