5 Ways Owning a Home will Benefit you

Owning a home is very important that’s why we’re passionate about helping our clients get approved! Here are 5 ways being an homeowner will financially benefit you:?

1. ?????????? ???? ?? ???????????????? ?????????????????? ???????????? ???? ?In a strong economy, home values generally increase by 3 % to 4% every year. Putting money into home ownership versus a rental is equivalent to comparing the difference between putting money into an investment account versus a no-interest checking account. The rental will only be as valuable as it is in the moment, while the value of owning a home will increase over time! ?

2. ?????? ???????????????????? ?? ?You get a number of tax breaks for owning a home, most notably a deduction for the interest and property tax portion of your mortgage. This deduction is useful for off-setting the initial financial blow that comes with purchasing your property. If you ever decide to refinance your home after building sufficient equity in it, you also have the option of taking out a home equity line of credit, which is itself tax deductible????

3. ???????????????? ???????????? (??.??.?? ???????????????????? ???????? ????????????????) ?? ?Every single month that you pay your mortgage you own just a bit more of your home. The equity in your home builds in two ways : (1) equity builds as the value of your home increases, and (2) equity builds as you pay off more of your loan. Every month you pay money toward your loan you are building up your financial resources for the future. It’s why some people refer to mortgage payments as “forced savings.”?

4. ???????? ?????????????? ???????? ?????? ???? ?????? ?????????????As a renter, you don’t have a say over whether your landlord supplies you with energy-efficient appliances that can save you hundreds of dollars every year, but you do have to pay the utility bill either way. As a homeowner, you can make better short and long-term financial decisions.?

5. ???????? ?????????? ?? ?Home ownership has other financial benefits that may come in handy for you someday. For example, a mortgage is considered “good debt,” and it is likely to increase your credit score. It also proves your credit-worthiness for other things you may want to consider, like a business loan or a new line of credit.