Home ownership has so many incredible benefits that can cover many different areas of your life! It can benefit the lives of your family members, give you freedom to make your own decisions, you would have greater privacy, and closely ties you to your community. But one of the best advantages, is the financial gains you get from buying a home! Read the Keeping Current Matters article below to find out more!
According to the National Association of Realtors®’ 2017 National Housing Pulse Survey, 84% of Americans now believe that purchasing a home is a good financial decision. This is the highest percentage since 2007 – before the housing crisis. Those surveyed pointed out five major reasons why they believe homeownership is a good financial decision:
- Homeownership means the money you spend on housing goes towards building equity, rather than to a landlord
- Homeownership creates the opportunity to pay off a mortgage and own your home by the time you retire
- Homeownership is an investment opportunity that builds long-term wealth and increases net worth
- Homeownership means a stable and predictable monthly mortgage payment
- Homeownership allows for various deductions on federal, state, and local income taxes
The survey also revealed that the majority of Americans strongly agree that homeownership helps create safe, secure, and stable environments.
Bottom Line
Homeownership has always been and still is a crucial part of the American Dream.
I’d love to hear your thoughts about home ownership! Owners: What is your favorite part about owning a home? Renters: What are you most excited about for when you own your own home?