Nine Great Reasons To Buy A Home
1) Quality of life - a home provides stability and security for you and your loved ones.
2) Pride of home ownership - it's your personal haven.
3) Historically low interest rates - currently around 6% or better in the United States.
4) Appreciation potential - your home investment can grow in value.
5) Equity buildup and debt pay down - homeowners enjoy an average net worth of approximately $184,000 versus $4,000 for renters.
6) Leverage - where else can you buy and investment of this magnitude with 5-10 % down?
7) Tax deduction advantages - property and tax mortgage interest write-offs.
8) Tax Exemption - up to $500,000 per couple or $250,000 per person upon the sale of a primary residence in the United States.
9) The real cost of renting - at $800 per month, with the average 6% rental increase per year, you will pay $126,536 over just a 10 year period but you will have zero ownership in the property.