Seven Reasons to Own a Home

Buying a home is a big decision. There are a lot of things which need to be considered before you buy. Below are seven reasons why you should buy a home.

1. Stability – Staying in the same neighborhood will allow you and your family to build relationships with the community. Your children will also benefit from educational and social continuality.

2. Savings – When you build equity in your home, you are adding to a ready-made savings plan.

3. Equity – Money you spent on rent is gone forever, however mortgage payments will build up equity ownership interest for your home.

4. Appreciation – Real estate has historically had stable long-term growth in value. According to the Association of REALTORS® the median price of home sales for single-family existing homes have gone up by an average 5.2 percent each year 1972 to 2014. Due to the housing crisis, some have begun to question the long-term value of real estate, but even with a few bad years recently, the values have still gone up 7 percent cumulatively. Additionally, U.S. household numbers are expected to rise 10 to 15 percent in the coming decade.

5. Predictability – Fixed rate mortgage payments won’t go up as the years go by, so the costs of housing may actually decline the longer you own your home. Property taxes and insurance costs may still rise, however.

6. Freedom – Your home is your own. You may decorate it however you choose, and have full say in what kind of new amenities and upgrades you implement.

7. The Tax Benefits – Under the US Tax Code, you can deduct the interest on your mortgage, property taxes, and some of the other costs of buying a home*.

ProVisor is here to help you with your home buying process through home loans and home mortgages in the Brookfield, Milwaukee, Waukesha, East Troy, Watertown, and Madison areas, in addition to other states and areas as well. Contact us today!

*Make sure you consult a tax advisor to maximize all of your tax benefits