If you’re entertaining the idea of buying a home this Spring, here are some of the great benefits to home ownership worth considering.
- Appreciation. Your home can and should be one of the best investments you’ll ever make. Even with the ups and downs the housing market goes through, it always trends in an upward direction. Owning real estate is a great long term investment. Do your research and buy wisely and your home can be a source of income for you later in life, as opposed to renting, which only benefits your landlord.
- Costs of buying verses renting. Buying a home is almost always cheaper than renting, and with mortgage rates as low as they are right now, you’ll get even more bang for your buck! Renting is like throwing money out the window, or even worse, into your landlord’s pocket!
- Tax benefits. There are several tax benefits to home ownership. One being that the interest you pay on your mortgage is tax deductible, which means keeping even more of your hard earned money.
- Retirement income. Your home can be an income generator for you in your retirement years. If you decide to sell your home and downsize, you could quite possibly double or triple your initial investment! Not bad huh? You also have the option to rent it out for steady monthly cash flow. Now your house is working for you, so you don’t have to!
I could go on and on, but you get the picture. Why throw your hard earned money away when you could be investing in your future?