Establish Financial Stability
Homeownership is one of the best ways to establish your credit history. By making timely payments on your home, you can contribute to a positive credit history. Consult with a financial advisor for professional advice on how homeownership will enhance your financial stability.
Investment & Equity Building
As you make your payments and own more of your home, you add to its investment value, increasing your “equity.” Building equity contributes to your long-term savings and helps you solidify your financial future.
Most improvements you make will also add to your home’s value. Additionally, although real estate moves in cycles, sometimes up and sometimes down, over the years, real estate has consistently appreciated over time.
Generally, interest on your mortgage loan is deductible on your yearly personal income tax return. Many of the closing costs associated with purchasing your home may also be deductible, as well as your property taxes.
Independence & Pride of Ownership
Pride of ownership is the number one reason why people desire to own their home. It means you can paint the walls any color you wish, turn up the volume on your stereo, attach permanent fixtures, and decorate your home according to your own taste. It’s truly something you can call your own!
Security & Stability
A home can provide security against inflation because the value of your home typically increases as prices go up … providing greater equity. Being established in a community provides a sense of belonging, stability, and security. Homeownership allows you to become involved in your community, with area schools, and with community organizations. It’s not just a house, it’s a HOME.