Not a Homeowner Yet?
The Benefits of Home Ownership
Few things in life are as rewarding as living in your very own home. The desire to own a home is shared by most people despite their economic backgrounds. For many, homeownership represents the realization of a lifelong dream. No matter what the size or price tag, owning a home is considered a major accomplishment.
Can I Afford to Buy a Home?
You can’t afford not to buy. Buying a home can be considered as a way to save money, and is the cornerstone of many individuals’ long-term financial plans. Each month as you make your mortgage payment, your debt is reduced and your equity in the property increases. As you get closer to the final years of the life of your mortgage, you will have paid off most of the interest on the loan, and have built up a considerable amount of equity in your home. Equity can be borrowed against to make home improvements, pay for your children’s college tuition, or used for any other major expenses. Or if you want, you can sell your house just for the cash.
How Much of a Down Payment Do I Need?
Real estate is one of the few financial areas where the average American can take advantage of leverage. Leverage allows you to buy a home with a relatively small outlay of your own money; the rest is borrowed. To determine your down payment options, contact us today!
What are the Tax Benefits for a Homeowner?
- A deduction for points you pay to a lender to obtain a mortgage loan. Typically, the points are deductible in the year paid.
- A deduction for the interest you pay on your mortgage loan for both a first and a second home, up to $1 million of loan principal.
- A deduction for the amount you pay annually for property taxes.
- A tax deferral on your profit from a home sale that is reinvested within two years in a replacement residence of equal or higher cost.
Whether you are looking for your first home, or are thinking of trading up, most buyers see the purchase of a home as the beginning of a new and exciting chapter in their lives. Today’s housing market offers some great opportunities that will provide you and your family with a sense of security and satisfaction for many years to come.