First of all, home ownership is the American Dream. It’s creating a home for your family with potential finacial rewards in the future. How can you benefit in the future from home ownership? Appreciation. Usually land and homes appreciate in value over time. Historically, your home will be worth more in the future than when you purchased it, but you can’t sell it the year after you purchase it. It’s considered a long term investment. As your home appreciates and you have been paying down the mortgage, you can use the equity in your home to move to a more expensive or nicer home. Or move to a smaller home and use that equity to pay off bills, pay for a child’s college, or fund your retirement. It gives you some flexibility for your future. If you don’t want to sell the home, you can still tap into the equity by refinancing or getting a home equity loan to remodel or make a large purchase. Basically, you can leverage your property. This is just another benefit of home ownership. Lastly, you get tax breaks when you own a home. You can deduct property taxes and mortgage interest. Owning a home has always been a wise investment. If you would like to know more about the benefits of home ownership, please call Register Real Estate Advisors at 281.288.3500 where we can advise you on purchasing land, a home, or any residential or commercial property. Our Realtors fall under a strict code of ethics and can help you make the best financial decision for your family!
