Top 5 Reasons to Own a Home in 2016
Whether 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:
- Your home is an appreciable asset and an investment that will grow over time to help you grow and preserve your wealth.
- 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?
- 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.
- There are huge tax savings associated with home ownership, like deducting mortgage interest and property tax payments.
- 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.