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Reasons to Purchase Your Own Home

posted by Stephen Katz @ 8:51 AM
Friday, April 26, 2013

Many people have mixed feelings about purchasing a home because they worry about getting tied down or taking on too much debt and responsibility. Here are some compelling reasons why anyone who can afford it should purchase a home.

House prices usually rise over time, so a house is one of the best investments you can make. Home prices in the U.S. have risen 3 – 6 percent a year for the past 20 years. If you purchase a home now, it would probably be a safe investment that is likely to grow.

You will pay fewer taxes. You can deduct interest you pay on your mortgage from your taxable income. The value of this tax break depends on factors such as your tax bracket, the size of your mortgage, the rate of interest you pay on it and how long you have had the mortgage. Usually the newer the mortgage, the greater the amount of interest you pay each month and the bigger the tax break. This means that recent buyers with new mortgages usually get the biggest tax benefits.

You will be buying a piece of real property rather than putting money in the landlord’s hands. The cost of rent is often higher than the price of a monthly mortgage payment.

Interest rates are still low. This makes it fairly inexpensive to take out a mortgage. The lower the interest rate, the less you pay for the house and the quicker you pay the mortgage off.

You will be able to use the equity in your home to get low cost loans for other purposes. You can use the equity in your home either in the form of a home equity loan or home equity line of credit. Home equity loans and lines of credit generally carry a lower interest rate than other types of loans because they are secured. The interest on them is generally tax deductible as well.

You will have the stability and security of owning your own home. No more worry about landlords, increasing rents or your mother. You can live in your house as long as you like and you will be in charge.

You will be able to redesign and renovate any way and time you want. You can tear down walls, install a bathroom, update a kitchen or make any improvements you want. You get to decide everything. You will also be able to recoup part of the cost of home improvements.

You can have a garden space, barbeque and relax in your very own backyard. This is a big plus in home ownership. A piece of land to call your own.

You will be able to put down roots in community. You can get to know your neighbors or participate in community activities.

You will have a greater voice in community affairs. Local homeowners usually have a lot more clout when it comes to development proposals, school issues and changes in traffic control.

Stephen Katz

(770) 309-0939 (direct) or (866) 742-8400 —

For the past 18 years, Stephen Katz has built a successful business almost entirely on referrals. As your mortgage consultant throughout the home loan process, Stephen will explain the pros and cons of all available mortgage programs and help you choose the financing option that is best suited to your needs.
Throughout the loan process, he will keep you informed and will respond quickly to your requests with answers and solutions.

Consistently a top producer, Stephen is a Mortgage Bankers Association “Diamond” Award winner, a Georgia Mortgage “Top Gun” and has closed almost half a billion dollars in loans. Put his knowledge and experience to work for you!

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