Reasons to own your own home
Posted on Friday, December 30, 2011 at 11:10:12 PM
Now may be the time to buy a home. Whether you are a first-time homebuyer or someone looking to move into a bigger space, the dropping market prices all for first time home buyers credit or potentially more lending money.
Here are a few reasons to become a homeowner.
1. Savings. By owning your own home, you are forced to save due to equity. By doing the math, a homeowner could be making themselves a bundle by investing in a property that will wield monetary gain not available for a federal income tax.
2. Tax breaks. Homeowners are allowed to deduct the interest they pay on their mortgage, property taxes and other fees on their annual taxes. Homeownership can be the right decision for an individual or couple looking to invest their money wisely into something that will yield a return.
3. Offers inflation protection. Over the long term, housing has proven to beat inflation prices by a few percentage points a year, according to the Wall Street Journal.
These are just a few potential reasons that buying a home may be a smart financial decision for the future