Top 3 Financial Advantages to Home Ownership
Your home is MUCH more than a place to store your things or keep you dry when it’s raining outside. It is also a very important component in your overall financial foundation. I just want you to know that I understand this and am dedicated to helping you find the right mortgage solution. Not just for today – but also for the long haul.
Here are my Top 3 Financial Advantages to Home Ownership:
- 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.
- “Savings Account” in the form of Equity
- If you’re like me, you appreciate the opportunity 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 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.
- Long Term Potential for Appreciation
- 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 see that real estate as a whole has grown in value. If you’re thinking long term, you’re likely to come out ahead!
*Please consult a financial advisor for tax deductibility
I sincerely appreciate you allowing me this opportunity to help educate you on the home buying process. Talk to you soon!