7 Reasons to Own Your Home 1. Tax breaks. The U.S. Tax Code lets you deduct the interest you pay on your mortgage, your property taxes, as well as some of the costs involved in buying your home.
2. Appreciation. Real estate has long-term, stable growth in value. While year-to-year fluctuations are normal, median existing-home sale prices have increased on average 6.5 percent each year from 1972 through 2005, and increased 88.5 percent over the last 10 years, according to the NATIONAL ASSOCIATION OF REALTORS®. In addition, the number of U.S. households is expected to rise 15 percent over the next decade, creating continued high demand for housing.
3. Equity. Money paid for rent is money that you’ll never see again, but mortgage payments let you build equity ownership interest in your home.
4. Savings. Building equity in your home is a ready-made savings plan. And when you sell, you can generally take up to $250,000 ($500,000 for a married couple) as gain without owing any federal income tax.
5. Predictability. Unlike rent, your fixed-mortgage payments don’t rise over the years so your housing costs may actually decline as you own the home longer. However, keep in mind that property taxes and insurance costs will increase.
6. Freedom. The home is yours. You can decorate any way you want and benefit from your investment for as long as you own the home.
7. Stability. Remaining in one neighborhood for several years gives you a chance to participate in community activities, lets you and your family establish lasting friendships, and offers your children the benefit of educational continuity.
Online resources: To calculate whether buying is the best financial option for you, use the “Buy vs. Rent” calculator at www.GinnieMae.gov.
Reprinted from REALTOR® magazine (REALTOR.org/realtormag) with permission of the NATIONAL ASSOCIATION OF REALTORS®.
Bluffton/Off Plantation:
Bluffton/Off Plantation Contact Team Carter about Bluffton/Off Plantation. The Town of Bluffton is located in Beaufort County, the southernmost coastal county in South Carolina. It is located on a high bluff overseeing the May River, a unspoiled waterway that has strongly contributed to the Town's history and continued succ...
Search MLS: Bluffton/Off Plantation [323 Listings]
Rose Dhu:
Rose Dhu Contact Team Carter about Rose Dhu. Rose Dhu Creek offers 118 large estate homesites from one to five acres in a private, gated community located on more than 300 acres and features a full-service equestrian complex, over seven miles of leisure trails, two fully stocked fishing lagoons...
Search MLS: Bluffton/Off Plantation [323 Listings]
St Andrews Common:
PALMETTO DUNES/SHELTER COVE Contact Team Carter about St Andrews Common. St Andrews Common Villas is a private community with a short walk to fabulous pool & pool pavilion located in Palmetto Dunes on Hilton Head, SC. This popular resort and residential community is located mid-island on 1,800 well-preserved acres. Insid...
Search MLS: PALMETTO DUNES/SHELTER COVE [285 Listings]
Loading Data...
