The Perks of Owning a Home

Many individuals are considering purchasing their first home, now more than ever. From the $8,000 new home buyer tax credit to the near-historic-low interest rates and great supply of homes on the market, now may be the opportunity you’ve been searching for.

However, have you considered whether owning a home is right for you?

Although there certainly are risks of owning a home, often times the advantages outweigh the disadvantages. You may want to reconsider purchasing a Carrollton home if you don’t plan on staying more than a few years, or if you simply don’t want the responsibility involved with maintaining and owning a home.

However, if home ownership is your dream, and you are financially prepared to purchase your first Carrollton home, then consider the perks of homeownership:

• Owning a home is still the best investment - Although home values in many parts of the country have seen a hit over the last, couple years, the reality is that median existing home sales in the country have consistently increased an average of 6.5 percent over the last 30-plus years, according to the National Association of Realtors. In other words, if you plan on staying in your home for at least five years, then chances are good that you will walk away with a nice profit.
• Tax incentives - There are plenty of tax incentives to owning a home, including being able to deduct your mortgage interest. Plus, you can receive up to $250,000 in profit when you sell, without having to pay taxes on it.
• The freedom of owning a home - Being able to redecorate, paint as you wish and remodel at a whim is yours when you own a home. Most renters are very limited when it comes to changing anything about their homes, but as a homeowner you have much more freedom and flexibility.