Buy a Home

Home ownership is a an achievable goal with the right tools, knowledge and resources on your side.  Buying a home is such an exciting process and can be financially rewarding with the right agent by your side to advise you on market conditions, pricing, and provide other necessary resources to navigate the process.

There are many benefits to home ownership including the following 7 Reasons to Own Your Home (consult a CPA for the latest tax code):

1. Tax breaks. The U.S. Tax Code lets you deduct the interest you pay on your mortgage, your property taxes, as well as some of the costs involved in buying your home.

2. Appreciation. Real estate has long-term, stable growth in value. While year-to-year fluctuations are normal, median existing-home sale prices have increased on average 6.5 percent each year from 1972 through 2005, and increased 88.5 percent over the last 10 years, according to the NATIONAL ASSOCIATION OF REALTORS®. In addition, the number of U.S. households is expected to rise 15 percent over the next decade, creating continued high demand for housing.

3. Equity. Money paid for rent is money that you’ll never see again, but mortgage payments let you build equity ownership interest in your home.

4. Savings. Building equity in your home is a ready-made savings plan. And when you sell, you can generally take up to $250,000 ($500,000 for a married couple) as gain without owing any federal income tax.

5. Predictability. Unlike rent, your fixed-mortgage payments don’t rise over the years so your housing costs may actually decline as you own the home longer. However, keep in mind that property taxes and insurance costs will increase.

6. Freedom. The home is yours. You can decorate any way you want and benefit from your investment for as long as you own the home.

7. Stability. Remaining in one neighborhood for several years gives you a chance to participate in community activities, lets you and your family establish lasting friendships, and offers your children the benefit of educational continuity.

Once you decide that you’re ready to purchase a home, it is a good idea to contact and interview a real estate agent in order to determine the best match for your needs and personality.  You will be spending a lot of time with your real estate agent and you need to feel comfortable with them personally in addition to feeling that you can trust their professional knowledge, experience and opinion.

Whenever you’re ready to begin the process, feel free to contact me and I look forward to the opportunity to meet with you to discuss your real estate needs.