Home Ownership = Key to Financial Security

Home Ownership = Key to Financial Security

 

Homeownership - The Key to Financial Security...

Just What Does that Mean?

The benefits of homeownership are both financial and psychological:

· Home ownership is a durable (real) investment.  Historically, housing has appreciated in value for decades.  Although no one can say a specific home in a specific location will increase in value, generally speaking, the odds favor most homeowners.  Also, monthly mortgage payments (the part that reduces the Principal Loan Balance) become a solid form of savings.

·Numerous tax advantages are available to homeowners. Unlike other investment tax shelters, homeownership works for you even as you live in the investment.  For example, the thousands of dollars you pay on mortgage interest is deductible on your income taxes.  This deduction alone can sometimes make owning your own home cheaper than renting with “after-tax” take-home dollars.

- Tax deductions include: settlement charges for the loan, county taxes on the property, and amount paid in interest

· By accumulating equity (cash value) in your home, you can later move up to another home, with an even better down payment in hand.  Look at it as “forced savings.”

· Homeownership offers you the opportunity to take control of your housing costs.  Mortgage payments (even on adjustable-rate mortgages) are more predictable than rents.

· Owning your own home allows greater freedom of choice in your community, architecture, and interior décor.

· Often, the only way to match your lifestyle needs is with your own home; rentals simply can’t be found that give you what you want for entertaining, children, schools, home office, drive time, location, etc.

 

Contact Information

Photo of The Cincinnati Team - Saralou & Mary Real Estate
The Cincinnati Team - Saralou & Mary
RE/MAX Preferred Group
3522 Erie Avenue
Cincinnati OH 45208
Saralou: 513-646-4819/Mary: 513-310-4448
Fax: 513-842-7892

                Preferred Group                                                Last modified: 8/28/17