There’s no place like home. And, there’s nothing more rewarding than the American dream of homeownership. In fact, Realtors® often advise potential homeowners of these key advantages to buying a house, versus renting:
Predictable monthly payments. You can lock in a mortgage payment for as long as 30 years, while a landlord can raise the rent whenever the lease expires.
It’s a good investment. Owning a home can provide a valuable asset. Especially if you plan to be in your home for a while. Over time, the value of your home could increase and give you a substantial return on your investment.
You build equity. As you continue to make mortgage payments, you eventually pay down the principal amount loaned, which increases your equity. And, as the home increases in value, so does your total equity.
Tax benefits. Since your mortgage interest and property tax payments may be deductible from your federal taxes, owning a home can reduce the amount of taxes you pay each year, allowing you to keep more of your hard-earned money.
You build a strong credit history. Making your mortgage payments on time raises your credit score. This is especially important in the future when you need to borrow money for other major expenses.
Freedom to personalize. Since you own the home, you are free to create the environment that suits your taste. You can own pets, paint the rooms, add a deck, change the flooring, remodel, etc., all without having to get permission from a landlord.
A sense of community. Owning your own home makes you feel connected to your neighborhood as well as your overall community. It fosters a sense of pride.
There are so many reasons – personally and financially – to love owning a home. It can be a rewarding achievement in life, especially for first-time homeowners.
Be sure to save the date for The Woodlands Hills Grand Opening on July 21-22 and July 28-29 from 12 Noon until 5 p.m. More details to follow!