Welcome to the Sorting Hat for HomeownersIf Hogwarts had a campus in State College (and honestly, it should—those turrets would look spectacular against a football Saturday sky), the Sorting
What Are The Major Benefits Of Home Ownership?
Dated: March 30 2021
Views: 271
Home Ownership has rewards.
You enjoy six major benefits when you own your own home.
1. Happiness
The feeling of owning your own home is unmtached. You can fix it up, make it your own, get a dog, or plant a tree if you wnat. Doesn't that sound exciting?
2 Tax Savings
The government rewards homeowners by providing excellent tax benefits. The interst paid on your mortgage and other home-related expenses can generally be deducted from your income.
3. Appreciation
Home Values have a well-documented history of going up over time. This increase becomes equity you can benefit from when you refinance or sell.
4. Equity
Renting has often been compared with paying 100% interest on a mortgage loan. BUT ... when you own a home and a mortgage is in place, a portion of your payment goes toward the principle balance on your loan. This builds your equity in the home and acts as a "savings account".
5. Roots
People who own rather than rent stay in the ir homes four times longer. This gives you a splendid opportunity to get to know your neighbors and connect with your local community.
6. Education
Research shows children of homeowners earn higher test scores and graduate at a higher percentage than those of renters.
Frances Thorsen
Frances Thorsen is a leading real estate author and thought leader. She got her real estate license and became a REALTOR® in 1985. She was an early adopter of real estate technology on the Interne....
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