If you’ve never bought a house before, the idea of purchasing a new home can be intimidating. However, the benefits that come with being a homeowner are virtually endless. Now just might be the right time for you to make your first foray into buying a house!
Here are the top four reasons why you should consider purchasing a home:
1. Tax benefits: Property tax laws favor homeowners. When your mortgage balance is less than the value of your home, the mortgage interest is completely deductible on your yearly tax return.
2. Buying a house is a great investment: When you rent an apartment, your monthly payment is basically an expense for which you’ll never see a return. By buying a house, you’ll be investing in your house’s value and your own net worth with each monthly payment. Building equity on your house is a much better use of your money than just handing it to a landlord every month.
3. You get more space and privacy: Most apartments are small, cramped living spaces with little or no yard space — not to mention how annoying it is when you can hear your neighbors through your wall. By buying a house, you’re buying the space and privacy you deserve.
4. The pride of owning your own home: While not a tangible benefit, this might be the most prominent reason why many people decide to become homeowners. Your house is an extension of yourself, and you’ll be able to create the perfect living space.
There are so many advantages of buying a new home that aren’t mentioned here. To get started on your journey to purchasing a home, talk to a real estate agent who can guide you through the process of buying a house you’ve always dreamed of. Read more here.
