Is Homeownership in Your Future?
Homeownership is a goal that many American’s work hard to achieve. While it may appear to be easier to rent at times, you may be missing out on potential benefits. Some financial and personal rewards may include the following:
Homeownership is cheaper - With today’s lower interest rates, homeownership is often less expensive in the long run than renting. Several homeownership expenses are also tax deductible.
You build equity - One of the biggest benefits in homeownership is the build up of equity in your home. Equity is the difference between the market value of your home and what you still owe. As your home increases in value over time, so will your equity.
Your house may appreciate over time - Doing your research before purchasing a new home can pay off. Purchasing a home in a growing area with quality schools and employment opportunities, may indicate future growth and appreciation.
You will form stronger social ties - Staying in one place over time helps you to form stronger ties with your neighbors and become more involved in your community.
Your home has more privacy - Many of us have experienced noisy rental neighbors or intrusive landlords. Enjoying the peace and privacy of your own home is priceless.
Visit Tavola online and see if homeownership is in your future plans.
SOURCE: Credit Donkey