• Karla Laporte

6 Reasons To Own A Home

  1. Equity. Unlike money paid for rent that you’ll never see again, your mortgage payments let you build equity, ownership interest, in your home. Building equity in your home is essentially a savings plan.

  2. Appreciation. Historically, real estate has had a long-term, stable growth in value. The November market report for the metropolitan area (Broward County, Miami-Dade County and Palm Beach County) showed an increase in sales volume and median price when compared to 2019. The report also showed that properties listed for sale spent less time on the market before going under contract than they did last year. In addition, the number of U.S. households is expected to rise 10 to15 percent over the next decade, creating continued demand for housing.

  3. Tax Benefits. The U.S. Tax Code allows you to deduct the interest you pay on your mortgage, your property taxes, and some of the costs involved in buying a home. The Taxpayer Relief Act of 1997 allows homeowners to exclude capital gains up to $250,000 ($500,000 for a married couple) without owing any federal income tax when they sell their property.

  4. Predictability. Unlike rent, fixed-rate mortgage payments won’t rise over the years so housing costs may decline over time. However, keep in mind that property taxes and insurance costs will likely increase.

  5. Freedom. You can personalize your home the way that you want. You have the ability to choose upgrades and amenities that fit your needs.

  6. Stability. Remaining in one neighborhood for several years allows you and your family time to build relationships within the community.

Data obtained from the National Association of Realtors's Realtor Magazine and the Florida Realtor Association.

7 views0 comments

Recent Posts

See All