On the fence about buying a home? Not sure if it is right for you? If you are ready to settle down in one spot for a few years, have a steady job and are a disciplined saver, homeownership would be a great option for you.
Here are 12 ways homeownership is beneficial to you:
1) When you rent you’re building your landlord’s estate. When you buy you’re building your own estate.
2) Rent money is spent money, but the moment you buy a home, you start a built-in savings account.
3) Buying a home encourages a family to save. A family that otherwise might be unable to save is forced to do so when mortgage payments must be met.
4) Owning is protection against inflation, and, in addition, as inflation continues to rise, you’ll be paying off your mortgage with cheaper dollars.
5) Homeownership offers advantages on income taxes. Real Estate taxes and interest charged on mortgages are deductible.
6) Homeownership gives the family a sense of security.
7) Buying a home gives the family greater opportunity to provide a desirable environment for the children.
8) Money invested in paying off the mortgage may be used as security for an emergency loan.
9) Homeownership is a symbol of achievement.
10) Ownership improves a family’s credit rating.
11) Owning enables a family to make alterations to the house and yard. If a family enjoys painting, decorating, yardwork, and so forth, these activities can be a diversion and at the same time increase the value of the property.
12) Buying a home means you can have pets!
First Weber sells real estate throughout Wisconsin: Metro Milwaukee and Southeastern WI, South Central Wisconsin, Southwest Wisconsin, Central Wisconsin, Northeast Wisconsin, parts of MN, Michigan’s Upper Peninsula and Wisconsin’s great Northwoods. You can start searching for Wisconsin real estate and Wisconsin real estate agents at firstweber.com
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