Since the housing bubble burst on the housing market a few years back potential homeowners have been more cautious about making the decision about home ownership. The idea for many people of finding a Realtor, then working with that Realtor and getting qualified for a mortgage, spending time and finding a home, putting in an offer can be a scary and stressful process.
I make the process of purchasing a home stress free with open communication, transparency, and knowledge about the local market. I would also like to dispel some of the buyers fears of owning a home and would like you to consider some of these benefits of home ownership.
- The Tax benefits: The IRS lets you deduct interest you pay on your mortgage and on your property taxes and some of the costs that are associated with your home purchase. You will need to talk with your tax professional about these deductions.
- No Landlord: If you are renting a home or an apartment you are at the mercy of your landlord. Your landlord can raise your rent, kick you out, and tell you how you have to live. Lets be honest landlords are a pain.
- Appreciation: Historically houses raise in value over time. According to NAR (National Association of Realtors) Single family homes rise on average of 5%. [i]
- Stable Payment: Unlike your rent a fixed rate mortgage will not rise.
- Low Interest: Currently mortgage rates are at historically low rates Current Housing Interest Rates.
- Savings: As you pay money into your mortgage you are building a savings plan by building equity into your home.
- You Can Make your Home Energy Efficient. You want to switch form oil to gas? Add a heat pump, solar panels, you can. The home is yours. Please check out my article on solar panels.
- Rent Money: Once you pay your rent- that money is gone.
Please check out this Rent Rent vs buy Calculator from Zillow. It should give you an idea of what you could save if you purchase your dream home.