Home ownership has many advantages, both personal and financial, but buying a home is an important decision. Understanding the differences between renting and buying can help you decide if it is the right time to make the leap.
Benefits of Home Ownership:
- Tax savings
You may earn significant tax savings because you can deduct mortgage interest and property taxes from your federal income tax as well as many states’ income tax if you itemize your deductions.
- A stable monthly housing expense
Your monthly housing loan or mortgage expense can remain the same for the life of your mortgage, depending on the type of loan you choose.
You may build equity in your home over the life of your loan, which allows you to plan for future goals like your child’s education or your retirement.
- Personal satisfaction
Your home can be a great source of pride and satisfaction – giving you peace of mind that you’ve built a solid foundation on which to build your future.
Think you might be ready? Have more questions? Please don’t hesitate to contact me.
I look forward to hearing from you,
|Bob Idakaar, GRI, Lifetime Achievement for Circle of Excellence, CRS,
Relocation & Senior Citizen Certifiedbob@bobshomes.net
973-539-8000 x 6677
20 Madison Ave