There are so many incredible benefits of homeownership, both financially and personally. If you are considering buying a home in Zionsville, IN, but aren’t sure if homeownership is for you, let us fill you in on all the financial perks to owning!
According to a recent study from the Joint Center of Housing Studies at Harvard University, there are several financial benefits to owning a home:
Pay your mortgage, not your landlords. You are either paying for your own home, or you’re paying for your landlord’s home. When you own, and you pay your mortgage each month, you know you’ll see a return on investment when you sell your Zionsville, IN home, and you might get back more than what you paid!
Forced savings. Not everyone is great at putting aside money each month for savings, but when you own a home, it’s like you’re being forced to save. You’re paying money out each month in the form of a mortgage, but then you get it back when you sell.
Tax benefits. When filing your taxes each year, you can deduct your mortgage interest and your property taxes.
Rental prices. Rents have been rising faster than home prices, so as long as you stay put in your house for awhile, homeownership is still cheaper than renting. Zionsville, IN rents will keep rising but a mortgage will not.
As you can see, buying a home in Zionsville, IN is a really smart financial decision, and a terrific investment into your future. Now is the time to buy, while mortgage rates are still low. They are predicted to rise over the course of 2016 so you shouldn’t wait. When ready to jump into homeownership, contact a Zionsville, IN real estate agent! We hope to hear from you soon!
Rodney & Amanda Heard
Heard Real Estate Team