- Tax Breaks. According to the U.S. Tax Code, you may deduct the interest you pay on your mortgage, your property taxes, as well as some of the costs involved in purchasing your home.
- Appreciation. History shows the long-term, stable growth value of home ownership. Yes, there may be year-to-year fluctuations. Median existing-home sale prices have increased on average 6.5 percent each year from 1972 through 2005 according to the National Association of Realtors®. The number of U.S. households is expected to rise 15 percent over the next decade, creating continued high demand for housing.
- Equity. When you pay rent, you are putting out money that you will never see again. When you pay mortgage payments, you are building equity in your home.
- Savings. Building equity in your home is a ready-made savings plan. As you get older you may get a reverse mortgage where you can use the equity of your home awhile still living there.
- Predictability. You will always know what your payments are. Unlike rent that may be increased from year to year. Property taxes and insurance cost may increase though.
- Freedom. Paint, remodel and decorate however you want. The home is yours!
- Stability. Build lasting friendships and participate in community activities.
It is time to buy that home you have been dreaming about! Call me today! 916.865.8759
Pam McCoy, e-PRO