April Week 4 Article: The Benefits of Owning a Home!

I’m sure you’ve heard the phrase, “Now is the time to buy a home!”. I’m here to let you know that this phrase is absolutely correct. It’s 2009 and houses are popping up all over the country at record low prices. Even though our country is in an economic crunch, the ability to purchase a home has never been better. It doesn’t matter if you are a new investor or a newlywed couple looking for your first home to begin your family. You can find a great home, in a great area for below market value. Even if you purchase a foreclosure for next to nothing, you can still fix it up yourself and end up with a worthwhile investment.


Don’t let the recession deter you from thinking outside the box. It’s time to look at the bigger picture. Here are a few reasons why owning a home is beneficial for you and your family.


Equity- Your home's equity can also be the key to building wealth. If the value of your property increases as you pay down your mortgage, you could build equity. In the future, you can use that equity to finance your child’s college education, and also use it as a down payment on another home for investment purposes.


Tax Advantages- The interest paid on your mortgage can be written off at the end of the year. This is not the case with your rent payments. You should consult a certified public accountant (CPA) to see just how much of a tax advantage home ownership can be.


Fixed Rate Mortgage- By choosing a fixed rate mortgage, you know that your housing payment (your mortgage payment) will not change in the years to come. So, if you chose a 20 year fixed rate mortgage, your monthly payment would be the same in 20 years as it is now. If you chose to rent instead, you can certainly expect the rent price to go up significantly in that same amount of time.


One of the biggest financial benefits is probably income tax deductions. You can reduce your taxable income by deducting the property taxes and the interest of your home mortgage from your gross income. So, if you pay $6,000 a year in interest and $1000 a year in property taxes, you can subtract $7,000 from your taxable income.


While there are many practical benefits to homeownership, there are also many other benefits. You can paint your walls any color you want. You can landscape the house however you see fit. You don’t have to ask permission to decorate. You can purchase that pool for the backyard that you’ve always wanted. The advantages of owning your own home are endless. The best part is that when you purchase a home, you have peace of mind. Apartments can be noisy and you have less worry about the people who come in and out. Your home is your castle and you don’t have to worry about strangers lurking about. If you are not a home owner and you are ready to make the first move to becoming a homeowner and would like to speak with someone who has a proven track record of success, call Vision Investment Corporation Today! Let us handle all of your real estate needs. Call 1.877.799.0820 or go to www.visioninvestmentcorp.com now to schedule a free appointment with a Vision Investment Corporation representative.


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Annetta Powell
Queen of Real Estate