Thinking about buying a home? There are quite a few financial and non-financial benefits that go along with taking this major step in your life. Here are four main benefits that cannot go unnoticed:
- Net Worth
When you become a homeowner, your net worth appreciates too! This will give you more freedom in the future to invest or do other things you have planned.
For the most part, houses also appreciate in value at a rate of 3.6%.
Equity also builds every single month, giving you the capital you need to begin a business, help your student through college, or some other major event.
- Tax Benefits
With the current financial climate, having a few tax benefits to claim sounds like music to the ears. The current laws have incentives to encourage people to buy a home.
- Ownership
This is a property you will own. You can decorate it how you like, make changes, and maintain the property how you want to. From paint to landscaping, you can create your dream space.
- Stability
Purchasing your own home gives you stability in knowing your mortgage won’t change unless it’s different from the standard fixed mortgage. That gives you more money in the budget, and more discretionary income to do the things you want.
These are just a few benefits that accompany purchasing a home, especially if it’s a seller’s market. Being able to make the investment into something you can call your home. For more information on homes for sale, contact the team at Berkshire Hathaway HomeService Newlin-Miller Realtors today.
