10 Reasons to own real estate
1. It is yours! - When a property is yours, you can do with it as you like. Paint the interior however you want, hang artwork, move walls, in effect personalize however you want. If an association is part of the community, they can restrict what you can do to the exterior.
2. Fixed Monthly payment - Unlike rent which has been consistently going up, a fixed rate mortgage will keep your payment flat. Only property taxes, insurance & association fees may increase over time.
3. Economic benefit - As you pay the bank for your property, you are paying off a loan that will eventually be paid off and you will own the property, free and clear. Rent is like money going to help another pay the loan on their property.
4. Tax deductions - On a principal residence, most people will be able to deduct the annual mortgage interest and property taxes, as well as some of the costs involved in buying your home.
5. Appreciation - Real estate has long-term, stable growth in value. There are always short-term fluctuations, yet over many years median existing-home sale prices have increased on average 5 percent each year from 1972 thru 2005.
6. 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.
7. Happiness - In the fact that knowing it is your home and no one can ask you to move, as they can with rent.
8. No more payments - Once you finish paying off the loan, you will no longer need to pay someone, besides the propety taxes and association fees, for the right to live in your property.
9. Neighborhood - Once you own, you are more likely to become part of the community. It may be just as simple as getting to know your neighbors or deeply involved in community affairs.
10. Stability - Remaining in one neighborhood for several years gives you and your family time to establish lasting friendships, and offers your children the benefit of educational continuity. So fill out the form below so we can help make this a reality for you.