6 Reasons to buy a homeEquityRenting has often been compared to paying 100% interest, but when you own a home and a mortgage is in place, a portion of your payment goes towards the principal balance
Benefits of Home Ownership | 6 Reasons to buy a home
Dated: February 3 2021
6 Reasons to buy a home
Renting has often been compared to paying 100% interest, but when you own a home and a mortgage is in place, a portion of your payment goes towards the principal balance on your loan. This builds your equity and acts as a savings account.
People who own rather than rent stay in their homes 4 times longer. This provides an opportunity to get to know your neighbors and connect with your local community.
Research shows children of homeowners earn higher test scores and graduate at a higher percentage than those of renters.
The feeling of owning your own home is unmatched. You can fix it up, make it your own, get a dog, or plant a tree if you want. Doesn't that sound exciting?
- Tax Savings
The government rewards homeowners by providing excellent tax benefits. The interest paid on your mortgage and other home-related expenses can generally be deducted from your income.
Home Values have a well-documented history of going up over time. This increase becomes equity you can benefit from when you refinance or sell.
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I'm Radhames Tatis, family and friends call me "Rad". I'm a Bergen County resident, husband and father. I take pride in helping you find your next home or sell your current home when the time comes. I....