There are many advantages to owning your own property, and right now first time homebuyers are in a great position to buy. With many special programs for first time homebuyers as well as a hot market, it just makes financial sense. Here are five reasons to start looking for your dream home – to own! – today.
Be your own boss – In a rental unit, your landlord has the final say in what you can do in your home. When you own your own property, YOU are in charge. If you don’t like the paint color on the walls, you can change it! You can plant a garden, set up a swingset, build a deck – anything you like.
Tax advantage: You can deduct the interest paid on home loans and property taxes, which can add up to a big break come April 15.
Pride of place: Studies show that homeowners have a better sense of pride and security than renters. When you relax in your own home, you know it’s the result of hard work and planning, and that you have the freedom to change it as you wish.
No more rent – When you pay rent, your money is going to pay someone else’s mortgage. When you buy your own home, your money goes to pay your mortgage, which over time builds up equity, which gives you money back in the long run. Every mortgage payment your make, and every improvement you make on the home, is putting money back into your pocket. Unlike with renting, owning a home gives you more than just a place to live. You can use your home equity to get loans and even cash for emergencies.
Good investment – There’s a reason the real estate market is so hot right now, and it’s because most people understand that buying real estate is a good investment for your future financial security. If you buy a home in an up and coming area, and are able to make some improvements on the property, you can make a large profit margin when it’s time to sell.
Helping hands – Various programs exist just for first time homebuyers to give you the edge in your first transaction. From down payment assistance to special mortgages, your first house can be the best deal you ever make.
Call Team Hernandez to find out more about these exclusive programs and find your dream home today!