Home Ownership 3 Most Important Benefits
Home Ownership is the American Dream. It is what most people dream for, and there are great financial and emotional benefits
A place to live and call home is crucial, when renting you have to follow the landlord rules to guide you on when you must leave and the limitations on how to limit you on making any changes to the home. Keys to the house are also maintained by the owner to maintain and do repairs when you are informed that access to the property is required.
Your actual take home paycheck will instantly increase when buying a home. It’s as if you are getting a job related pay increase. The majority of your monthly payment, interest, and taxes, are fully tax deductible.
Historically, the real estate market has increased as much as 1% on average per year. This, along with the fact that you are using leveraged money, gives one the potential to make this a very good long term investment strategy. When it comes time to sell your home, if you are single, you can take up to $250,000 profit tax free, and if you are married and filing jointly, you can take up to $500,000 tax free. Please verify this thru your CPA, o your tax advisor.
MAKE IT A PLAN TO OWN YOUR HOUSE FREE OF MORTGAGE ONE DAY…MAKE PAYMENTS ANUALY TO YOUR PRINCIPAL TO REDUCE THE AMOUNT YOU OWED.
TAKE ADVANTAGE OF THE MANY AVAILABLE LENDING PROGRAMS AND INCENTIVES TO OWN YOUR HOME.