Top 10 Reasons To Buy

  1. Pay less in taxes

    You will be able to deduct the interest that you pay on your mortgage from your taxable income. The tax break is the greatest in the beginning years of your mortgage since the amount of interest that you pay each year is reduced as your principle portion of the payment increases. The tax break will depend on your personal tax bracket, the interest rate that you pay, the amount of the mortgage and obviously, how long you have held the mortgage. You can also deduct property taxes. Please see your tax advisor for details.

  2. Build up equity

    Rather than paying money to the landlord and having nothing to show for it, you are paying down the principal amount of the loan and building up equity in the property every month that you make a payment.

  3. Low interest rates

    Your buying power is greatly enhanced when interest rates are low. If interest rates go up from present levels you will be borrowing less for the same monthly payment. Taking advantage of the low interest rates is a smart thing to do and probably will be less expensive than the rent you are paying after you factor in the tax breaks.

  4. Appreciation

    Real estate is cyclical, however, over the years real estate consistently appreciates.

  5. Redecorate and renovate

    Paint the walls your favorite color, attach permanent fixtures and decorate your home based on your taste. When you sell, you will be able to recoup a portion of the improvements that contributed to the added value of your property.

  6. Stability and security

    You no longer will have to worry about a difficult or negligent property owner, rent increases or the possibility of having to vacate your building against your wishes. You will be able to live in your house as long as you wish and you can fix your monthly payment for up to 30 years.

  7. Borrow against your equity

    You can obtain a home equity loan or home equity line of credit once you have attained equity in your home. Since these are secured loans, the interest rate is usually lower than other type of consumer loans such as auto loans. In addition the interest is tax deductible.

  8. More space

    Perhaps your family has grown and you are bursting at the seams. Need more room for all of your stuff, an area to enjoy your hobbies or watch TV, or a garage to park your car? Home ownership can provide the extra space that you need.

  9. Deferred gain and capital gain treatment

    Presently married taxpayers filing a joint return can exclude up to $500,000.00 of a gain on the sale of their principle residence. Single taxpayers can exclude up to $250,000.00 of the acquired gain. To qualify for the exclusion, homeowners must have lived in and used the home as their primary residence for two out of the preceding five years. Homeowners are allowed to take the exclusion once every two years. There is no cap on how much total gain they may exclude in their lifetimes. Please see your tax advisor for details.

  10. Freedom, enjoyment, privacy & pride

    Owning your own home allows you to make the decisions that are vital to your family’s well being; get a pet; build a garage, or plant a garden. Nothing compares to the pride of home ownership. Stop throwing your hard-earned money away, and take the necessary steps toward owning your own home.