If you need some inspiration to start house hunting or just want to make sure you are taking advantage of all the homeownership has to offer, here are my top 7 perks of owning your own home.
Happiness - The feeling of owning your own home is unmatched. You can fix it up, make it your own, get a dog, plant a tree and decorate it however you want!
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.
Appreciation - Home values have a well-documented history of going up over time. This increase becomes equity you benefit from when you refinance or sell.
Equity - Renting has often been compared to paying 100% interest, but when you own a home and a mortgage is in place portion of your payment goes toward the principal balance on your loan. This builds your equity and acts as a savings account.
Roots - People who own rather than rent stay in their homes 4 times longer. This provides an opportunity to get to know your neighbours and connect with your local community.
Education - Research shows children of homeowners reach higher test scores and graduate at a higher percentage than those of renters.
If you have been thinking of purchasing a home, please feel to reach out to me and I will get you a copy of my Informed Home Buyers guide.
For more useful information on becoming an educated buyer in today's market, contact me for a free copy of my Becoming an Informed Home Buyer guide.