by Brian Burke
on Monday, November 30th, -0001 at 12:00am.
1. Tax breaks.The U.S. Tax Code lets you deduct the interest you pay on your mortgage, your property taxes, as well as some of the costs involved in buying your home.
2. Appreciation.Real estate has long-term, stable growth in value. While year-to-year fluctuations are normal, median existing-home sale prices have increased on average 6.5 percent each year from 1972 through 2005, and increased 88.5 percent over the last 10 years, according to the NATIONAL ASSOCIATION OF REALTORS®. In addition, the number of U.S. households is expected to rise 15 percent over the next decade, creating continued high demand for housing. 3. Equity.Money paid for rent is money that youll never see again, but mortgage payments let you build equity ownership interest in your home.
4. Savings.Building equity in your home is a ready-made savings plan. And when you sell, you can generally take up to $250,000 ($500,000 for a married couple) as gain without owing any federal income tax.
5. Predictability.Unlike rent, your fixed-mortgage payments dont rise over the years so your housing costs may actually decline as you own the home longer. However, keep in mind that property taxes and insurance costs will increase.
6. Freedom.The home is yours. You can decorate any way you want and benefit from your investment for as long as you own the home.
7. Stability.Remaining in one neighborhood for several years gives you a chance to participate in community activities, lets you and your family establish lasting friendships, and offers your children the benefit of educational continuity.
Information is deemed reliable but not guaranteed.
Disclaimer: Kenna Real Estate. Blog does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied. Blog posts on the Kenna Real Estate. Blog represent the opinions and ideas of the author(s). Kenna Real Estate. Blog does not express the views of Kenna Real Estate. or those of the broker.
Denver CO Luxury Foreclosures - Opportunities by Brian Burke is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 United States License."Denver Luxury Foreclosures - Opportunities" By Brian Burke.
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Brian Burke | Broker | ePRO | Expert | 303.955.4220 Office | 303.710.2609 Direct | Brian@kennarealestate.com