Deciding youâ€™re ready to buy a house is a big moment in your life, whether itâ€™s a first time purchase or youâ€™re snatching up yet another investment property. The home buying process is fraught
THE BEST THINGS ABOUT HOME OWNERSHIP
If you own a home, there was certainly a lot that went into your decision to buy rather than continue to rent. Now youâ€™re enjoying all the advantages of homeownershipâ€”here are the top five.
1. Building wealth: When you own a home, you have an asset that will likely increase in value over time. It provides great security, and the opportunity to essentially live â€śrent-freeâ€ť in your retirement years when the home is paid off.
2. Freedom to make it your own: Landlords can be strict about customizing rental properties. Most donâ€™t even allow their tenants to paint. But when you own a home, the possibilities are endless. Get rid of a wall, or paint it any color you like. Itâ€™s your property.
3. Building equity: Every mortgage payment your make, and every improvement you make on the home, is putting money back into your pocket. Unlike with renting, owning a home gives you more than just a place to live. You can use your home equity to get loans and even cash for emergencies.
4. More freedom and stability: Studies show that homeowners have a better sense of pride and security than renters. When you relax in your own home, you know itâ€™s the result of hard work and planning, and that you have the freedom to change it as you wish.
5. *Tax advantages: Homeowners can deduct the interest paid on home loans and property taxesâ€”thatâ€™s a big break that comes up every April 15.*
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Hi, I'm John Thomas, and I am a full-time/full-service RealtorÂ® at eXp Realty in Atlanta Georgia. I was born in Chicago, grew up in Elmhurst. I attended York High School and Loras College. I have a B....