Real Estate Guide: 5 Reasons for Buying a Home
Posted by Bill True on
Thinking of Buying a Home? Read 5 Good Reasons to Go Ahead!
If you're on the fence about buying a home, here are 5 good reasons to take the leap. It's normal to feel anxious about taking on the commitment of home ownership, but it's also wise to consider the many benefits. We recommend that you write down the pros and cons for yourself, and if you need any help with the pros, here are our 5 good reasons to buy a home...
In your own home, you can decorate and design to suit your tastes, picking your own paint colors, ceiling fixtures, and so much more. No more relying or waiting upon a landlord. You can make improvements and repairs to the house yourself; at your own convenience. In America, we pride ourselves on our independence, and as a result, owning your own home is still the #1 American Dream.
Owning a home allows you (and your family) to build strong and solid roots in a neighborhood and community, and make long-lasting friendships and connections. With home ownership comes a greater sense of stability and security. No more concerns about unexpected rent increases or a potentially transient, rapidly-changing community of renters.
While there are no guarantees, real estate has proven to be an excellent investment for most homeowners - if you plan to hold onto your home for 5 years or more.
4. Tax Deductions:
Real estate property taxes paid for a first home and for a vacation home are fully deductible. You may also deduct the interest you pay on your mortgage and some of the actual costs involved in buying your home. In addition, when you sell, you can usually take up to $250,000 ($500,000 for a married couple) as gain without owing any federal income tax. Home ownership can be a superior tax shelter.
You'll never see your rent money again, but your mortgage payments build equity for you. In most states, you can borrow against a home's equity for home improvements, college tuition, medical expenses, new business start-up costs, or a variety of other reasons.
When buying a home, we highly recommend that you seek the help of an Exclusive Buyer Agent (EBA) like those here at True Sarasota Real Estate. EBAs pledge special service and undivided attention to buyers in real estate. They know the local real estate market, the current real estate inventory, and the best real estate deals at the moment. They monitor the MLS for new listings, price changes, and the very best prospects for buyers. If you're relocating to a new area, no one makes a better tour guide or has more local familiarity and expertise than an EBA.