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The Top 5 Reasons to Buy a Home
1. Save on your income tax.
Yes, something good can come out of income tax. Due to income tax deductions, the government subsidizes your home purchase. Therefore all of the interest and property tax you pay throughout the year can be deducted from your gross income tax. A nice perk.
2. A Hidden Savings Account.
If you are anything like me, you can't save money to save your life. Seriously, my fiancee covers all of that, thank God. With being a home owner you actually save money two ways :
Each month a portion of your payment goes towards the principal, so not much at first but after 20 or so years, well you do the math. It will add up.
Homes (if properly kept) appreciate in value. Again not much at first but the average appreciation value is roughly 5 - 6 percent. This by the way is per year. It is said owning a home is one of the very best financial decisions to make.
3. Your monthly payment is fixed.
How so you ask? Have you ever rented an apartment or a condo or a house for that matter? Chances are you probably have. Then one day a knock on the door and the landlord says "Hi, I am raising the rent" Great!!! He needs extra cash or whatever, you flip the difference, and if you do the math even $20 more a month is still $240.00 out of your pocket. You buy a home you get a fixed price, a fixed monthly payment for ten or twenty or thirty years. Even if its adjustable it won't go up much. So really, what makes more sense here, investing in property for yourself or paying for someone else's?
4. Location, location, location.
Or in this case...space, space, space. No more little 2 bedroom apartment where your back yard is an 80 foot drop to the cement. More areas for more things, recreation or study. Whatever you need you can have.
5. And last but CERTAINLY NOT LEAST.
Freedom!!! Need I say more?
Well there you have it the Top 5 Reasons to Buy a Home. The very reasons my agent convinced me to buy a specific house when I had no money for the down payment. Speaking of.....
Check out the next issue where we will cover "How to Buy a House with No Money Down".
Garret Belisle is the author of a blog designed to help you on your way to home ownership, and some helpful tricks on down payments and credit repair. You can view the site here at http://www.gbcmortgage.blogspot.com. While your there make sure to sign up for the weekly updates on the bottom left corner to keep up to date with all of the latest advice.
MORE RESOURCES updated Mon. March / 08 / 2021
Today's mortgage refinance rates — 30-year rates sit at the lowest seen in 13 days | March 5, 2021 - Fox Business
Today’s mortgage refinance rates mixed — one key rate drops while another rises | March 2, 2021 - Fox Business
Today’s mortgage refinance rates mixed — one key rate drops while another rises | March 2, 2021 Fox Business
Today's mortgage and refinance rates: March 7, 2021 | Rates go down Business Insider
Can refinancing a mortgage hurt my credit score? Fox Business
Best mortgage refinance lenders in 2021 Bankrate.com
Best cash-out refinance lenders in 2021 Bankrate.com
Is now still a good time to refinance a mortgage? The Philadelphia Inquirer
Mortgage lending crushes records in 2020 at $4.3 trillion Mortgage Professional America
Mortgage rates are falling to unprecedented lows in 2021 — refinance now to save money - Q13 FOX (Seattle)
Mortgage rates are falling to unprecedented lows in 2021 — refinance now to save money Q13 FOX (Seattle)
How to refinance an FHA loan | Mortgage Chase News & Stories
Mortgage Recast: How to Reamortize and Save Money Credible News
What Are The Benefits Of Cash-Out Refinancing? Is It Worth It? The Mortgage Reports
What Is a Mortgage and How Does It Work? | Mortgage 101 The Mortgage Reports
Can Closing Costs Change On The Closing Disclosure? The Mortgage Reports
2021 Maine first-time homebuyer assistance programs Bankrate.com
How do I get the most out of my mortgage refinance? Fox Business
Top 5 mortgage refinance questions answered Fox Business
How to decide if you should refinance your mortgage Fox Business
Pros and cons of a cash-out mortgage refinance Fox Business
How to refinance your mortgage Fox Business
Mortgage refinance: Everything you need to know Fox Business
Mortgage refinance rates continue hitting record lows – here’s how to get the best deal now - Fox Business
Mortgage refinance rates continue hitting record lows – here’s how to get the best deal now Fox Business
What are the hidden costs of refinancing a mortgage? Fox Business
Who's exempt from the new mortgage refinance fee? Fox Business
Everything You Should Know About The New Mortgage Refinancing Fee That Goes Into Effect Dec. 1 - Forbes
Everything You Should Know About The New Mortgage Refinancing Fee That Goes Into Effect Dec. 1 Forbes
How to refinance your mortgage in 5 easy steps Fox Business
Mortgage refinance applications soar despite a new fee that increases the cost - Pittsburgh Post-Gazette
Mortgage refinance applications soar despite a new fee that increases the cost Pittsburgh Post-Gazette
The best mortgage refinance lenders of March 2021 Business Insider
Refinancing your mortgage? Don’t make this mistake Fox Business
Despite low mortgage interest rates, homeowners should research the caveats before reﬁnancing - Seattle Times
Despite low mortgage interest rates, homeowners should research the caveats before reﬁnancing Seattle Times
4 ways to get lower mortgage refinance rates Fox Business
A record 19.4 million homeowners can now save big on a mortgage refinance, as rates hit another new low - CNBC
A record 19.4 million homeowners can now save big on a mortgage refinance, as rates hit another new low CNBC
5 reasons to refinance your mortgage right now HousingWire
How to Refinance Your Home | Home Lending Chase News & Stories
10 things to know before refinancing your mortgage Fox Business
3 Mortgage Refinance Strategies to Consider in 2021 The Motley Fool
Complete Checklist of Mortgage Refinancing Requirements Credible News
10 tips for getting the best mortgage refinance rate, from checking your credit report to choosing the right lender - Business Insider
10 tips for getting the best mortgage refinance rate, from checking your credit report to choosing the right lender Business Insider
How a mortgage refinance affects your net worth Fox Business
Jumbo Mortgage Refinance Rates for March 2021 NextAdvisor
USDA Construction Loans | Buy Land & Build A Home With USDA The Mortgage Reports