- You own it! With no landlord…you make the decisions. Paint it…landscape it…its yours!
- You can deduct it – Mortgage interest…property taxes and some costs involved with buying a home can be deducted from federal income taxes.
- Interest rates – The cost to borrow mortgage money is at an all-time low. If you’re going to buy…this is the time to jump into the market.
- You invest in it – Rent money is gone forever…but Mortgage payments build home equity ownership interests.
- You save for the future – Home equity is a ready-made savings plan. Keep it for 2 years out of the last 5 year…then you sell it without owing any federal income tax on the profit.
- You can predict expenses – Unlike rent…a fixed-mortgage payment doesn’t get more expensive over time.
- You pick it – Choose from different neighborhoods…styles and price ranges. Instead of being forced to accept a rental to live in that you don’t like or is in an area you aren’t happy with.
- You create it – Decorate…renovate…get a pet or paint the walls whatever color you want – it belongs to you. No one can tell you what you can and can’t do any more!
- You live in a neighborhood – You and your neighbors take pride in the local schools…roads and more – and you work together to build a friendly community.
- You spend money on yourself – When you buy a chandelier or hardwood floor or kitchen cabinet…you’re spending hard-earned money on yourself and building your equity at the same time.
- Buy young…don’t wait!
A new study from the Urban Institute shows that those under the age of 40 have accumulated less wealth than their parents did at the same age..
According to this study, if a person delays buying a home to age 40 instead of age 30…that alone could result in a $42,000 loss in home equity by the time that person reaches age 60!
This is another great reason to purchase a home instead of paying the high costs of renting!
I’d love to help! My direct number is (352) 843-1988