Unlike buying a car whose value depreciates immediately after driving it off the dealer’s parking lot, a home’s value appreciates with time.
Why should you consider buying a house? Well, for starters, owning a home is a form of long-term investment and can come in quite handy in your golden years.
Also, more people embrace it because they’ve realized they can own a home without breaking the bank. Still not convinced? Here are more reasons why you should buy a home now.
- It’s a Great Investment – Buying a home offers a better return on investment than other large purchases, such as buying a car. Unlike buying a car whose value depreciates immediately after driving it off the dealer’s parking lot, a home value appreciates with time.
- You Get to Pay Less Tax – As a homeowner, you can get tax benefits for buying, owning, remodeling, and even selling your property. These benefits come in the form of tax deductions. That’s right; you can deduct the interest you pay on your mortgage from your taxable income. Also, should you happen to sell your home, you’ll not be required to pay taxes on the profit you make from the sale.
- Peace of Mind and Stability – Another benefit of owning a home is the peace of mind and stability of paying a fixed monthly mortgage. Unlike rent, mortgage payments are not affected by market factors. Instead, they’re set at a constant rate, meaning that your housing payments will reduce over time. What’s more, when you rent a home, you are basically under your landlord’s mercy – they can decide to increase the rent upon renewal of the lease or even evict you if you violate any lease terms.
- You Get a Sense of Pride and Belonging – When you buy a home, you’re not only investing in the neighborhood but also get to benefit from the social aspect of belonging to a community. In addition, there are lower crime rates among homeowners, which makes you feel safer and stable.
- You Have the Freedom to Do Whatever You like with Your Property – Most leases don’t allow you to make even the slightest adjustment in the house you are renting. However, when you’re a homeowner, you can make whatever home renovations you want. You can paint your walls whichever color you desire, add another room, expand that tiny closet, turn the attic into your home office, and so much more. In addition, when you’re a homeowner, you get to keep as many pets as you can have. This is something that most renters don’t enjoy since most landlords don’t allow tenants to keep any pets.
Contact the team at Better Rate Mortgage Today
With so many benefits of being a homeowner, it’s time to take a leap of faith and become one too. So, contact Better Rate Mortgage today, and let’s get started on securing you the perfect home. Your dream home is a phone call away.