The Top 5 Reasons to Buy a Home1. 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 updated Thu. April / 25 / 2024 Only Half Of Black Seniors Approved For Home Repair Or Refinance Loans To Age In Place Block Club Chicago 10-year refinance rates: What to know about the current market CNN Underscored Should You Refinance Halfway Through Your Mortgage? Bankrate.com How to Refinance Your Mortgage NerdWallet Mortgage Interest Rates Today, April 24, 2024 | Rates Still Slated to Go Down This Year Business Insider 30-Year Mortgage Refinance Rates Business Insider Mortgage Interest Rates Today, April 22, 2024 | The Still-Hot Economy is Keeping Rates High Business Insider 15-Year Mortgage Refinance Rates: Compare Current Rates Business Insider Mortgage Interest Rates Today, April 21, 2024 | Rates Remain Near 7% Business Insider How To Choose The Right Kind Of Refinance For You Bankrate.com Will Interest Rates Go Down in May 2024? | Mortgage Rates Forecast The Mortgage Reports Current Student Loan Interest Rates in April 2024 Business Insider Average Mortgage Interest Rates: Mortgage Rates by Credit Score, Year, and Loan Type Business Insider MBA: Mortgage Applications Decreased in Weekly Survey Calculated Risk Mortgage Rates This Week NerdWallet The best mortgage lenders for refinancing in April 2024 CNN Underscored Should You Refinance Your Mortgage In 2024? Bankrate.com Best Mortgage Refinance Lenders In 2024 Bankrate.com Current mortgage refinance rates CNN Underscored Mortgage Interest Rates Today, April 19, 2024 | High Rates Make for a Challenging Homebuying Season Business Insider When to Consider Refinancing Your Mortgage Business Insider Best Refinance Lenders of April 2024: Refinance Your Mortgage The Motley Fool How To Refinance A Rental House Bankrate.com Mortgage Rates Chart | Historical and Current Rate Trends The Mortgage Reports Best Mortgage Refinance Lenders of April 2024 Business Insider Refinance Requirements: What You Need to Refinance Your Home in 2024 The Mortgage Reports Mortgage Interest Rates Today, April 20, 2024 | Rates Remain Elevated, but They Could Fall Later This Year Business Insider How Soon Can You Refinance a Mortgage? NerdWallet 30-Year Mortgage Rates Move Lower for a Third Day Investopedia Refinancing a Home Equity Loan (2024 Guide) MarketWatch How To Refinance An Underwater Mortgage Bankrate.com Mortgage Rate Predictions: Are 7% Rates Here to Stay in 2024? Norada Real Estate Investments 30-year refinance rates: What to know CNN Underscored Mortgage Rate Forecast February 2024 Bankrate.com Mortgage Rate History: 1970s to 2023 Bankrate.com Current 15-year refinance rates — and lenders that offer them CNN Underscored When should I refinance my mortgage? To determine if a refinance is the right move for you, you’ll need to know the ... The Wall Street Journal Pros and Cons of a Cash-Out Refinance Bankrate.com What Credit Score Do I Need To Refinance? Bankrate.com Should I Refinance My Mortgage Now? When to Refinance As Rates Drop Business Insider Office of Research blog: A look at cash-out refinance mortgages and their borrowers between 2013 to 2023 Consumer Financial Protection Bureau The Best Mortgage Refinance Rates in Canada NerdWallet
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