OWNING A HOME...OFFERS SO MUCH MORE THAN YOUR SHELTER.....

One of the American Dreams, is to own your own home! The feeling of having a home to create your own HOME STORY filled with memories is truly a beautiful thing and we are desire to have that. However, have you thought about all the other benefits that go along with owning your own home?

There are many benefits and I will certainly agree the most important benefit is having a safe haven a shelter where you can feel safe and be able to wake up each day and know that you have accomplished a dream and now are living in it.

Lets look though at some of the other benefits to home ownership.

1. You can control your monthly housing expense. No more rent increases which seem to occur quite often. A 30year fixed mortgage interest rate provides the foundation for stable monthly payments.

2. You'll build home equity with each monthly payment. Each payment you make builds equity (value in your home beyond what you paid for it).

3. Your home value will rise over time. If you look at a graph of home values since the 1960's , one this is clear: Home values usually increase the longer you own a home, this is called appreciation. When you go to bed at night and while you are sleeping, your home is making money for you....a long process often, but worth it.

4. You may get as tax deduction. One major benefit of owning a home is the mortgage interest deduction. Home mortgage interest is tax deductible, which could mean a reduction in the federal taxes you owe. Most of your monthly payment is interest!

5. You'll build credit. A study of millennial users found millennial homeowners had a median credit score of 692, compared to 601 for non-homeowners. Higher credit scores gives you more strength in the finance world.

6. Finally, but so important, YOU CAN MAKE THE HOME YOUR OWN! Whether painting a child's room their favorite color or customizing a game room in the basement, owning a home gives you the power to modify and make it YOURS!

If you would like more information about how you may be able to purchase a home, and the current market options out there, give me a call....I would love to help you.