When faced with a decision to rent or to buy a home, many people get intimidated by what seem like the enormity or purchasing a new home but there are many practical reasons why owning a home is the wisest decision. Click HERE if you are interested in home ownership in Augusta GA. Here are 6 reason why its a wise thing to own your own home:
- Tax breaks. The U.S. Tax Code lets you deduct the interest you pay on your mortgage, your property taxes, as well as some of the costs involved in buying your home.
- Appreciation. Real estate has long-term, stable growth in value. While year-to-year fluctuations are normal, median existing-home sale prices have increased on average 6.5 percent each year from 1972 through 2005, and increased 88.5 percent over the last 10 years, according to the NATIONAL ASSOCIATION OF REALTORS®. To contact a Realtor in Augusta Ga, click HERE. In addition, the number of U.S. households is expected to rise 15 percent over the next decade, creating continued high demand for housing.
- Savings. Building equity in your home is a ready-made savings plan. And when you sell, you can generally take up to $250,000 ($500,000 for a married couple) as gain without owing any federal income tax.
- Predictability. Unlike rent, your fixed-mortgage payments don’t rise over the years so your housing costs may actually decline as you own the home longer. However, keep in mind that property taxes and insurance costs will increase.
- Freedom. The home is yours. You can decorate any way you want and benefit from your investment for as long as you own the home.
- Stability. Remaining in one neighborhood for several years gives you a chance to participate in community activities, lets you and your family establish lasting friendships, and offers your children the benefit of educational continuity.
For more information on home ownership contact:
Sherri Melton - Realtor
2013 KW Quadruple Gold Sales Award-Over 11 Million in Sales in 2013
Associate Leadership Council Member 2007 - 2014
Accredited Staging Professional - IAHSP Member
Keller Williams Realty Augusta Partners
3633 Wheeler Rd., Suite 125
Augusta, GA 30909
Cell/Text 706.495.1135
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