Advantages of Home Ownership

Jen Guidry > Tips > Advantages of Home Ownership

5 Advantages of Homeownership

  • You build equity. Equity in your home is the amount of money you can sell a home for minus what you owe.

  • Long term buying is less expensive than renting. Instead of building your landlord's net work, build yours!

  • The larger your downpayment is, the lower your monthly mortgage payment may be. Even a modest 5-10% more on a down payment can provide better interest rates for the life of the loan, which an save you thousands in interest

  • Mortgage interest and property taxes may be tax-deductible. This may mean a large deduction each year for the majority of consumers.*

  • Tax refund money does not have to be "seasoned", meaning it does not have to be in your account for 60 days. As soon as it has been deposited, it can be used for down payment funds or to cover closing costs.

Leave a Reply