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The Top 5 Reasons to Buy a Home

1. Save on your income tax.

Yes, something good can come out of income tax. Due to income tax deductions, the government subsidizes your home purchase. Therefore all of the interest and property tax you pay throughout the year can be deducted from your gross income tax. A nice perk.

2. A Hidden Savings Account.

If you are anything like me, you can't save money to save your life. Seriously, my fiancee covers all of that, thank God. With being a home owner you actually save money two ways :

Each month a portion of your payment goes towards the principal, so not much at first but after 20 or so years, well you do the math. It will add up.

Homes (if properly kept) appreciate in value. Again not much at first but the average appreciation value is roughly 5 - 6 percent. This by the way is per year. It is said owning a home is one of the very best financial decisions to make.

3. Your monthly payment is fixed.

How so you ask? Have you ever rented an apartment or a condo or a house for that matter? Chances are you probably have. Then one day a knock on the door and the landlord says "Hi, I am raising the rent" Great!!! He needs extra cash or whatever, you flip the difference, and if you do the math even $20 more a month is still $240.00 out of your pocket. You buy a home you get a fixed price, a fixed monthly payment for ten or twenty or thirty years. Even if its adjustable it won't go up much. So really, what makes more sense here, investing in property for yourself or paying for someone else's?

4. Location, location, location.

Or in this case...space, space, space. No more little 2 bedroom apartment where your back yard is an 80 foot drop to the cement. More areas for more things, recreation or study. Whatever you need you can have.

5. And last but CERTAINLY NOT LEAST.

Freedom!!! Need I say more?

Well there you have it the Top 5 Reasons to Buy a Home. The very reasons my agent convinced me to buy a specific house when I had no money for the down payment. Speaking of.....

Check out the next issue where we will cover "How to Buy a House with No Money Down".

Until then

Garret Belisle is the author of a blog designed to help you on your way to home ownership, and some helpful tricks on down payments and credit repair. You can view the site here at http://www.gbcmortgage.blogspot.com. While your there make sure to sign up for the weekly updates on the bottom left corner to keep up to date with all of the latest advice.

MORE RESOURCES

Housing Wire

Obama pressures Congress on mortgage refinance program Fox News WASHINGTON – President Obama is rallying support for his plan to expand government assistance to homeowners, pressuring Congress to help lower lending rates for millions of strapped homeowners. Obama, in his radio and Internet address Saturday, ... President Obama's Mortgage Refinance Plan Just a Bid for VotesYahoo! Contributors Network Obama Unveils Mortgage Refinance EndeavorsMortgageorb New Obama mortgage refinance plan to near $10 billionHousing Wire Go Banking Rates -CBS Moneywatch -MarketWatch all 1,239 news articles »

MonitorBankRates.com

Mortgage Refinance Rates: 15 Year Refinance Mortgage Rates at 3.29% MonitorBankRates.com Mortgage refinance rates on 30 year conforming home loans are averaging 3.98%, unchanged from yesterday's average 30 year mortgage refinance rate. Mortgage refinance rates today on 15 year home mortgage loans are averaging 3.29%, down from yesterday's ... and more »

Fox News

Obama Proposes Mortgage-Refinance Plan Wall Street Journal By NICK TIMIRAOS President Barack Obama called on Congress during Tuesday's State of the Union address to approve new legislation that would give all homeowners who are current on their mortgages the opportunity to refinance at record low mortgage ... Obama proposes mortgage refinance programPolitico (blog) Will Obama's Mortgage Refinance Plan Be D.O.A.?U.S. News & World Report Obama proposes new mortgage refinance programHousing Wire Daily Caller all 314 news articles »

International Business Times

FOX 11 News Discussion: State of the Union MyFox Los Angeles And he aimed a pitch at homeowners, announcing a new mortgage refinance program with "historically low interest rates" that "gives every responsible homeowner the chance to save about $3000 a year on their mortgage." He added, "A small fee on the ... Winning Words, But Not a WinnerU.S. News & World Report Obama State of the Union 2012: Mortgage Refinance Changes Face ObstaclesInternational Business Times all 12,250 news articles »

CBS Local

Six Questions on Obama's Mortgage Refinance Proposal Wall Street Journal (blog) By Nick Timiraos President Barack Obama said Tuesday night in his State of the Union address that he would send a plan to Congress to allow all homeowners who are current on their mortgages to refinance. Here's a quick look at the proposal: How is this ... Obama plan could help refinance Bay Area mortgagesSan Francisco Chronicle all 19 news articles »

Anchor Bancorp Wisconsin Inc. Announces Third Quarter Results MarketWatch (press release) Revenues in the quarter ending September 30, 2011, were unfavorably impacted by a $5.1 million impairment charge on the capitalized mortgage servicing rights asset due to lower interest rates and the resultant mortgage refinance activity. and more »

KOMO News

Living large? Get the best rate on your jumbo mortgage refinance NASDAQ If you buy apparel from "big and tall" clothing stores, you're used to paying more and having less to choose from. "Regular guys," on the other hand, benefit from a wider selection of products and more competition between retailers. Mortgage Interest Rates Move Higher: 15 Year Mortgage Interest Rates at 3.34%MonitorBankRates.com all 113 news articles »

AgedLeadStore.com to Add 1100000 Aged Mortgage Refinance Leads Middle East North Africa Financial Network COM, January 26, 2012 ) Baltimore, MD AgedLeadStore.com is increasing its value for its customers by adding 1.1 million aged Mortgage Refinance Leads in February. This is important as many people depend upon their ability to refinance to make progress ...

High Volume Stock Movers: Bank of America, Sprint, Cisco, Annaly, Sirius Feb. 8th Wall St. Cheat Sheet By Derek Hoffman Bank of America Corp (NYSE:BAC): The US's Home Affordable Refinance Program has increased mortgage refinance applications and strained capacity at Bank of America, leading the bank to ask some customers to wait 60 to 90 days, ...

New HARP Could Help Up to 6.7 Million NASDAQ Other changes to the program were designed to make it easier for homeowners with private mortgage insurance (PMI) to refinance or to obtain a HARP mortgage refinance with a lender other than their current mortgage servicer. In addition, new limits were ... and more »

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