Top 5 Financial Benefits of Homeownership

Buying a home is one of the most important decisions you'll ever make.  When you choose an Illinois REALTOR®, the good news is "You don't have to go it alone".

Buying a home is an involved process and requires the guidance of a trained professional.

Call or text me at (630) 669-2401 TODAY!

My Real Estate Dream Team and I are here for you. Our goal is to exceed your expectations, give you a peace of mind, keep you smiling and make sure that you enjoy the journey.

I am committed to developing a lasting and trustworthy relationship with my buyers as I guide them along their path to their dream homes.   To start understanding the buying process today, see below.    Or, better yet,  call/text me at 630-669-2401 or email me at  mmancano@c21affiliated.com.  We can set up a meeting at your earliest convenience and get you into your new home!

For More Info, Click on these Links:

Top Home Buyers FAQs and Answers

10 Step Real Estate Buying Guide

The Buying Process

How Homeowners Feel When They Get The Keys

5 Financial Reasons to Buy A Home | Keeping Current Matters

5 Financial Reasons To Buy A Home

We have reported many times that the American Dream of homeownership is alive and well. The personal reasons to own differ for each buyer, with many basic similarities.

Eric Belsky, the Managing Director of the Joint Center of Housing Studies at Harvard University expanded on the top 5 financial benefits of homeownership in his paper -The Dream Lives On: the Future of Homeownership in America.

Here are the five reasons, each followed by an excerpt from the study: 

1.) Housing is typically the one leveraged investment available.

“Few households are interested in borrowing money to buy stocks and bonds and few lenders are willing to lend them the money. As a result, homeownership allows households to amplify any appreciation on the value of their homes by a leverage factor. Even a hefty 20 percent down payment results in a leverage factor of five so that every percentage point rise in the value of the home is a 5 percent return on their equity. With many buyers putting 10 percent or less down, their leverage factor is 10 or more.”

2.) You're paying for housing whether you own or rent.

“Homeowners pay debt service to pay down their own principal while households that rent pay down the principal of a landlord.”

3.) Owning is usually a form of “forced savings”.

“Since many people have trouble saving and have to make a housing payment one way or the other, owning a home can overcome people’s tendency to defer savings to another day.”

4.) There are substantial tax benefits to owning.

“Homeowners are able to deduct mortgage interest and property taxes from income...On top of all this, capital gains up to $250,000 are excluded from income for single filers and up to $500,000 for married couples if they sell their homes for a gain.”

5.) Owning is a hedge against inflation.

“Housing costs and rents have tended over most time periods to go up at or higher than the rate of inflation, making owning an attractive proposition.”

Bottom Line

We realize that homeownership makes sense for many Americans for an assortment of social and family reasons. It also makes sense financially. If you are considering a purchase this year, call/text me at (630) 669-2401 or email me at mmancano@c21affiliated.com.  My Real Estate Dream Team and I can help you with this process.

Please feel free to visit and use my mobile friendly Real Estate Website www.MonicaMancano.com (Ranked #1 - Century 21 Affiliated Agents) for your Real Estate Needs!

Looking forward to hearing from you!  :) Monica, REALTOR®, MRP, AHWD, Century 21 Affiliated, 1999 W. Galena Blvd., Aurora, IL 60506

 

Monica Mancano

Monica Mancano

REALTOR®, SRES®, MRP, AHWD
Contact Me

Tags