If you have been casually browsing the Zionsville, IN real estate listings and aren’t quite sure if homeownership is for you there are several things to consider. One of the most important factors to consider is whether buying a home is a smart financial move. The American Dream of homeownership is alive and well with many trying to obtain that dream. The personal reasons to own a home differ for each buyer, but there are many basic similarities.
Eric Belsky is the Managing Director of the Joint Center of Housing Studies (JCHS) at Harvard University. He authored a paper on homeownership titled – The Dream Lives On: The Future of Homeownership in America. In his paper, Belsky reveals five financial reasons why people should consider buying a home. Here is a summary of the main points for you to consider.
- Housing is one of the few leveraged investments available.
- You are paying for housing whether you buy or rent.
- Consider your owning of a home “forced savings”.
- Homeownership comes with many tax benefits.
- Owning a home is a hedge against inflation.
If you are thinking of buying your first home in Zionsville, the financial benefits are plenty. Now is a great time to get a sensational rate on your mortgage and therefore reduce your borrowing costs and monthly mortgage payments, which also makes financial sense.
Rodney & Amanda Heard
Heard Real Estate Team