7 Benefits of Owning A Home
If you need some inspiration to start house hunting or just want to make sure you are taking advantage of all the homeownership has to offer, here are my top 7 perks of owning your own home.
Happiness – The feeling of owning your own home is unmatched. You can fix it up, make it your own, get a dog, plant a tree and decorate it however you want!
Tax Savings – The government rewards homeowners by providing excellent tax benefits. The interest paid on your mortgage and other home-related expenses can generally be deducted from your income.
Appreciation – Home values have a well-documented history of going up over time. This increase becomes equity you benefit from when you refinance or sell.
Equity – Renting has often been compared to paying 100% interest, but when you own a home and a mortgage is in place portion of your payment goes toward the principal balance on your loan. This builds your equity and acts as a savings account.
Roots – People who own rather than rent stay in their homes 4 times longer. This provides an opportunity to get to know your neighbours and connect with your local community.
Education – Research shows children of homeowners reach higher test scores and graduate at a higher percentage than those of renters.
If you have been thinking of purchasing a home, please feel to reach out to me and I will get you a copy of my Informed Home Buyers guide.
For more useful information on becoming an educated buyer in today’s market, contact me for a free copy of my Becoming an Informed Home Buyer guide.