Top 5 Reasons to Own a Home in 2016

Top 5 Reasons to Own a Home in 2016Whether you already own a home or are considering buying a home this year, a home purchase is a long-term commitment, even if you have enough money to buy it outright. Here are the top 5 reasons to own a home in 2016:

  1. Your home is an appreciable asset and an investment that will grow over time to help you grow and preserve your wealth.
  2. You have to pay for housing whether you own a home or rent one. Wouldn’t you rather pay toward something you can call your own versus paying your landlord’s mortgage?
  3. Setting money aside for your future can be hard to do, but owning a home forces you to put money away – toward something that you will one day own free and clear.
  4. There are huge tax savings associated with home ownership, like deducting mortgage interest and property tax payments.
  5. Inflation is a fact of life. Housing costs will rise over time. If you buy a home in 2016 and finance it with a fixed rate mortgage, you are locking in your housing costs for the length of your loan.

If you’re still not sure owning a home is right for you, contact a local Realtor® to discuss home ownership opportunities in your community.

Marti Reeder, Realtor, Managing Broker