1. Tax Write off: Interest you pay on your mortgage, property taxes and private mortgage insurance are all tax deductible according to the U.S. Tax Code.
2. The Home Price Expectation Survey calls for continued home price increases over the next five years which combined with the improving economy, creates a buyer’s market with increasing competition for new home sales.
3. Historically-low Interest Rates: Mortgage rates are lower than they’ve been in decades!
4. Home Value: Despite the dramatic drop in national home prices, the Charlotte Real Estate market has had a very small decline in value for single-family homes. In some cases, the median home values in Charlotte have increased making this a great market for buyers.
5. Equity: Rather than paying rent to a landlord each month, why not invest in a home where you will receive a return later? Instead of giving your money away, put it into your home, which time has shown can be a great investment.
6. Tax Deduction at Time of Sale: If you have owned your home for at least 2 years, you can take a tax deduction of up to $250,000 for an individual or $500,000 for a married couple for the equity you have built in your home.
7. Stability: Rent costs will increase over time. When paying a fixed rate mortgage, your payments remain the same. This is a great way to help you plan and manage your money so there are no surprises in your budget.
8. Establish Credit: Home ownership is a great way to either establish or improve your current credit rating. It makes you a solid part of the community, develops self reliance and gives you an appreciation of financial independence.
9. Pride of Ownership: You are the owner and can customize your home as you wish. You can utilize the home the way you want to without having to seek permission of a landlord. It is your home.
10. Satisfaction: Home ownership offers special advantages that make life more enjoyable – backyard barbecues, family gatherings, a home workshop and the chance to enjoy your family’s companionship in the privacy of your own home. Your children grow up in a familiar neighborhood and you begin to establish your own roots.
11. Do your part: Owning a home is an important part of our national economy. It provides stability to our communities and for the next generation.
12. Buying a LiveWell home is one of the best investments in real estate you can make.