5 Reasons to Own Your Own Home Now. TAX DAY IS NEAR!
- Tax Breaks. The U.S. tax Code lets you deduct the interest you pay on your mortgage, your property taxes, as well as some of the costs involved in buying and selling your home.
- Appreciation. Real Estate has long-term stable growth value. While year to year fluctuations are normal, median existing homes sales prices have increased tremendously.
- 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.
- Predictability. Unlike rent, your fixed mortgage payments don’t rise over the years so your housing cost may actually decline as you own the home longer. However, keep in mind that property taxes and home insurance will increase slightly over the years.
- Freedom. The home is yours. You can decorate anyway you want and benefit from your investment for as long as you own the home.
Wait, there is one more reason to invest now. Interest rates are at an all-time low. You can not only own your home in 2021, but you can start new memories with probably a little more affordability due to low interest rates and getting more for your money while interest is low.
Think about it this way. It’s APRIL 15th and a good time to remind people that it is not about what you make, it is about what you keep. One of the best things about being an owner of your own home and or being a real estate investor is the many federal income tax advantages that may be available.