Buyer Resources
Benefits Of Home Ownership
When it gets right down to it, home ownership is the American Dream. It is what most people strive for, and there are a host of great financial and emotional benefits.
3 Huge Benefits of Home Ownership are:
Tax benefits – The majority of your monthly payment, interest, and taxes, are fully tax deductible. Therefore, you enjoy large tax savings each month. Your actual take home paycheck can instantly increase, It’s as if you are getting a job related pay increase. There are also cash and credit incentives out there now, to help qualified buyers, take advantage of the market.
Wealth Building - Historically, the real estate market has increased as much as 5% on average per year. This, along with the fact that you are using leveraged money, gives one the potential to make this a very good long term investment strategy. When it comes time to sell your home, if you are single,you can take up to $250,000 profit tax free, and if you are married and filing jointly, you can take up to $500,000 tax free. Please verify this thru your CPA, or you may contact our CPA, Bill Wegley at 703-591-7301.
Stability – We all need a place to live, and with renting you are at the discretion of a landlord to dictate when you must leave, how much rent you will pay, and if they will allow your pets. Home ownership allows greater stability and certainty in all these areas.
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