1. Mortgages are reasonable. While interest rates have been climbing, with two more scheduled for the remainder of the year, rates are still reasonable. With the Fed possibly raising two more times this year and a plan to raise up to four times next year, now is the time if you’ve wanted to look for your home to do so.
2. You get the tax breaks. With the options to choose from itemizing to deduct real estate taxes and your monthly mortgage interest, or to simply take the standard deduction, the choice is now yours to choose which way will save you the most.
3. The home is yours. While renting, you are in fact paying for someone else’s mortgage. You do not have the option to deduct their mortgage interest and you must adhere to their rules concerning pets, remodeling, or simply painting, and so on.
4. It’s a good investment. You are paying monthly rent anyway, might as well have those payments count. When you own, your payments build up equity giving you more options. Should you choose to sell down the road you will most likely make a significant profit. You also have the option to rent it out and have someone else make your payments and maybe put a little something into your pocket. You can even see about reverse mortgages as you get closer to retirement to help give you a little cushion and make your retirement funds go further. Many options out there.
5. The savings account that you didn’t know you had. As you build equity into your home, that in turn is basically a savings account. Why not choose the option to make money while you make your monthly payments anyway for your place to live?
These are just a few examples of how home ownership can benefit you. Call me today if you would like to go over your options and help you find the home of your dreams.
Author:Jason Winger Phone: 757-339-3787 Dated: August 19th 2018 Views: 276 About Jason: ...
Abrams Realty is a full service real estate company for all of your real estate needs including Residential Real Estate and Commercial Real Estate. Abrams Realty provides Property Management services.
We service all of Hampton Roads. This includes Virginia Beach, Norfolk, Chesapeake, Portsmouth, Suffolk, Newport News, Hampton and Poquoson.
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“To approach every relationship with an optimistic attitude, ethical professionalism, steadfast belief in our talents, and a determined focus on serving every customer and client to the very best of our ability.”
Abrams Realty believes in providing exceptional service in all situations. We are Military Friendly Real Estate Agents, understand PCS moves and help our military move daily!
We believe service comes before sales and hope to develop a great relationship with each of our clients!