Advantages Of Home Ownership!

Posted by Admirals Cove Homes on Mar 20, 2014 in Home, Real Estate | 0 comments

Sure purchasing a home has its advantages and disadvantages but the advantages often seem to far outweigh the disadvantages. A record number of Americans have chosen to opt for home ownership recently over renting. We have put a list together of what we think the top advantages of home ownership are and how they can benefit you.

1.)   Significant Tax Deductions: One of the most advantages things about home ownership is that there are a variety of state and federal tax deductions that will benefit you greatly. You will love all the tax deductions that are afforded to homeowners and you will see a significant amount of money going back into your pocket.

2.)   Investment Appreciation: Purchasing a home is one of the best investments that a person can make during their lifetime. Since the National Association of Realtors started keeping track in 1968 the national median home value has risen each and every year even during recessions. Real estate is cyclical but in the long term you can expect a significant return on investment.

3.)   Increased Borrowing Power: Owning a home builds equity and with equity comes increased buying power. This can be used to secure a loan or even obtain a line of credit. Borrowing power can also be used to power home improvements or help in purchasing an investment property. It can also come in handy when you need cash for emergencies or a big-ticket item.

4.)   Freedom, Freedom, Freedom: Another big advantage of home ownership is the tremendous freedom that comes with it. You will love not worrying about waking the downstairs neighbors or about them waking you up in the middle of the night, plus having complete control over your living environment speaks for itself.

5.)   Increased Sense Of Self Worth: Your entire disposition will be transformed when you own a home. Your self-confidence and self worth will benefit greatly from owning a home because there is something special that happens when the overwhelming feeling of accomplishment and fulfillment of home ownership hits you.

6.)   Impresses Potential Mates: It doesn’t matter whether you are a man or a woman we all want to impress our potential mates. The last but not least advantage of home ownership is that it is a very desirable and appealing characteristic that is sure to impress your potential mates.