Top 3 Reasons to Buy a Home

Posted by Debbie Sax on Sunday, February 23rd, 2014 at 12:40pm.

Homeownership has a cloud over it ever since the subprime-lending crisis in the last decade, but honestly it’s not really justified anymore. There are millions of potential young homebuyers who aren’t taking advantage of homeownership anymore like their parents did when they were young. The truth is, it’s probably a better decision to buy today than it ever was. So that got us thinking, what are the top reasons to buy a home today? So we came up with a list of reasons to own a home and, while there are many, we’ve narrowed it down to three. So here they are, the top 3 reasons to call someplace your “Home Sweet Home:”

1)   Mortgage Rates are Low – Right now in California you can get a 30-year fixed loan with an APR of about 4.3%, depending on your situation, and you probably won’t see them go much lower.  It’s possible you might not even see rates this low again in your lifetime. So what does this mean? It means it’s time to take advantage and buy while mortgages are cheap!

2)   You’ll take home more of your Income – If you’re financing your home you can deduct mortgage interest payments from your income taxes. So instead of seeing a portion of your paycheck disappear each year to taxes, you’ll now keep some of that money because you won’t have to pay tax on part of the investment you made. Uncle Sam even gives you a break on capital gains when selling your home. These are key reasons why homeownership is often declared cheaper than renting.

3)   It’s Yours! – The best part is, you can really make this place your own! Don’t like the kitchen appliances? Change them. Prefer a different shade of paint in the living room? Grab a brush.  Perhaps the best part of homeownership is the ability to control your living environment. It’s up to you which neighborhood you choose and what upgrades you install. You’ll find a different kind of pride in your place when it’s truly yours.

Buying a home is typically the largest single purchase many people will make, so there is a lot to be considered before diving in, but it should be considered! There are too many benefits and potential profits to be had. Maybe you think you’re not ready to make such a big decision, but look into our finance page before you do; you may be surprised how much home you can already afford!

(C) Copyright 2018, Debbie Sax. All rights reserved.

Debbie Sax
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