Top 6 Reasons to Buy Your First Home Today!
Published: 2010-09-03
- Affordability
- Tax Breaks
- Build Wealth
- Appreciation
- Stability
- Independence
Affordability. Based on recent property declines and current interest rates, home affordability has not been higher since it was first tracked over 40 years ago.
Tax Breaks. The IRS allows you to deduct the interest you pay on your mortgage, your property taxes and, in many cases for those who quality, some of the costs to buy your home and mortgage insurance.
Build Wealth. Unlike paying rent, with each mortgage payment you make, you build equity and decrease your income tax liability. Owning a home is still the best long-term investment.
Appreciation. As home prices have fallen precipitously in today's tough economy, the basis for realizing appreciation in future years is very strong. Historically, even with other periods of declining value, home prices have exceeded consumer inflation.
Stability. Knowing you can establish roots and raise a family in one location, free of the desires or needs of your landlord to sell the property you are living in. this is something no other investment provides. You can't live in a stock, and you can't raise your kids in a bond.
Independence. Enjoy the freedom to do what you want to your home. After all, it's yours to do what you wish. And, with any improvements you make, you have the ability to benefit from your investment.
