Tax benefits.The U.S. Tax Code lets you deduct the interest you pay on your mortgage, your property taxes, and some of the costs involved in buying a home.
Appreciation. Historically, real estate has had a long-term, stable growth in value. In fact, median single-family existing-home sale prices have increased on average 5.2 percent each year from 1972 through 2014, according to the National Association of REALTORS®. The recent housing crisis has caused some to question the long-term value of real estate, but even in the most recent 10 years, which included quite a few very bad years for housing, values are still up 7.0 percent on a cumulative basis. In addition, the number of U.S. households is expected to rise 10 to15 percent over the next decade, creating continued high demand for housing.
Equity. Money paid for rent is money that you’ll never see again, but mortgage payments let you build equity ownership interest in your home.
Savings. Building equity in your home is a ready-made savings plan. And when you sell, you can generally take up to $250,000 ($500,000 for a married couple) as gain without owing any federal income tax.
Predictability. Unlike rent, your fixed-rate mortgage payments don’t rise over the years so your housing costs may actually decline as you own the home longer. However, keep in mind that property taxes and insurance costs will likely increase.
Freedom.The home is yours. You can decorate any way you want and choose the types of upgrades and new amenities that appeal to your lifestyle.
Stability. Remaining in one neighborhood for several years allows you and your family time to build long-lasting relationships within the community. It also offers children the benefit of educational and social continuity.
Author:Sarah Freeman Phone: 928-925-4072 Dated: September 6th 2017 Views: 638 About Sarah: My husband and I instantly fell in love with the charming town of Prescott when we moved here with o...
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The Good Life Team is dedicated to providing you with an exceptional real estate experience from search to signing. Our approach to marketing is unique, innovative and effective and meets the needs of each client. Whether you're looking to sell your home for top-dollar or purchase your future home for the best price, The Good Life Team takes special interest in developing a lifelong partnership with our clients. Our goal is to help you reach your goals and live the good life.
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"I hired Ryan Lowry and his team to sell my home. He was very precise in his plan, he had good marketing and was always on call for me when I needed him. He explained everything in detail and we just clicked. At any time that I had a question, I would call in and they were always ready with and answer and if they didn't have an answer they delved into it and found out what was needed to be known. I didn't have too many showings because my house sold so rapidly. Ryan Lowry, I am very proud to say sold my ouse in 3 days- far beyond anything I ever expected. I enjoyed the marketing aspect of the videoing, it showed my property really well- inside and out. Without that, it might have taken quite a while longer to sell my home. If I was selling another home I would definitely use Ryan Lowry and his team and I would recommend them highly. I feel like everything they did was perfect in terms of marketing, showing my home- I believe we only showed it 3 times before it sold. In addition to selling my home, I decided to also I use Ryan to purchase a home. They went above and beyond in helping me to locate a home that I could afford in my area and still be happy!"