Why Should You Purchase a Home?
June is National Homeownership Month. It’s a time to celebrate the benefits that homeownership brings to families, communities and neighborhoods across America. Let us help you find a home! Call an agent from our team to help you on your search!
Purchasing a home is a great way to start building your financial security. You build equity in your home as you pay down the mortgage, which is a worthy financial resource. Mortgage rates are super low right now, so if you think you’re ready to buy a home, it’s a good time to make the move. According to Zillow, the average home value was $246,000 at the end of 2019, an increase of about 3.6%. Rising home prices means that homeownership is still a top way for people to increase their wealth through home equity.
Owning a home also provides federal tax benefits. Wouldn’t it be nice to get a bigger tax return? You can read more about the tax benefits online.
Want to improve your credit? While paying a mortgage on time improves your creditworthiness, you don’t get the same benefit from rent.
Do you live in an apartment? Do you wish you could paint your walls a different color or have a bigger kitchen? Maybe you’d like more privacy. These are things you can do and have when you own your own home. Plus, you get the added benefit of pride of ownership.