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Why Own A Home

June 10, 2013 |  Article By :   | 


Why own a home? Need some good reasons to buy your own home? Take a look at this short list.

  • Prices are still fairly low and so are interest rates. They say prices will increase by at least another 5% in the next year and interest rates may also rise, so get in as early as you can.
  • Rent is normally a variable that is only set for a short amount of time and seems to always increase. If you buy your own home and get a fixed rate mortgage, your “rent” will be the same for the life of your mortgage.
  • Rather than paying someone else for your place of residence, you are paying yourself with your mortgage payments. You can look at it as a form of savings plan as the equity builds in your home.
  • Mortgage interest is still a tax deduction. If you buy soon, you get a double bonus with the low interest rate and being able to use it as a deduction.
  • Paying your mortgage on time every month as well as your other bills will help get you a great credit score.

If you are on the fence about buying a home, now is the time to get off that fence and do it while homes are still a great deal!