Ten Reasons to Own a Home

July 28, 2016

1. It’s more affordable than ever. Housing affordability conditions have
reached the highest level since recordkeeping began in 1970. This is the
first time the typical family has roughly double the income needed to
purchase a median-priced home. Now is a very good time to become a
2. Government helps pay your mortgage. As a homeowner you are
allowed to deduct interest on our mortgage, property taxes, and some of
the costs involved in buying and maintaining your home. And when you
sell, the law allows you to show up to a $250,000 ($500,000 for a
married couple) gain without owing any federal income tax.
3. It’s like money in the bank. Building equity in your home is a ready-
made savings plan. Money paid for rent is money that the landlord used
to build their equity, but mortgage payments let you build equity
ownership interest in your own home, that’s like money in the bank.
4. Real estate appreciates. Real estate has always demonstrated long-
term, stable growth in value.
5. Provides financial predictability. Unlike rent, your fixed mortgage
payments don’t increase so your basic housing costs remain the same
year after year. Do you think your landlord would allow you to pay the
same rent for 30 years? (Property taxes and insurance costs may
6. Freedom of choice. The home is yours. You can choose how you want
to decorate, or where to put your appliances. It is yours to decide.
7. Offers stability to your family. Remaining in one neighborhood for
several years gives you and your family an opportunity to feel a sense of
community, establish lasting friendships, and offers your children the
benefit of educational continuity.
8. Peace of mind. You won’t have to worry about a landlord selling the
property and forcing you to relocate or falling behind on their payments
and losing the property and forcing you and your family to move.
9. Privacy. When you own your own home nobody has the right to inspect
the property or involve themselves in your personal business because the
property belongs to you.
10. Sense of pride. Owning your own homes gives you a feeling of pride and accomplishment.