Buying a home is no small decision. You can spend many days thinking about if now is the right time to buy a home or if even buying a home is right for you. Then once you do that it’s picking the right home.
There are several advantages to buying a home. Among those advantages are privacy, tax breaks and potentially more when you sell the house than what you paid for it.
Unless you want to live stacked on top of each other in apartments or condos, a home provides you more space to live and the ability to truly call the place your home.
One of the biggest benefits of owning your own home is you know for 20-30 years, depending on the length of your loan, what your house payment is going to be. This quite opposite of renting, where the cost can go up from lease-to-lease.
Of course, home ownership also brings you the added fun of property taxes to pay, but those can only go up 3 percent a year, thanks to a ballot measure approved Oregon voters in 1997 that separated taxes from the real home values. So you can completely plan for that. On the flip side, there is a benefit. Who would have thought there was a benefit to paying property taxes (besides funding schools, libraries, safety forces), but property taxes along with mortgage interest are tax deductible.
The longer you’re in your house the more likely you are to see a profit when you sell your house. Even before that, you will see the benefit if you apply for a home equity loan. It’s exactly what it sounds like. The great thing about these are they have a low-interest rate, making it possible for you to make some upgrades or fixes as the years progress without putting on your credit card and paying expensive interest rates.
Another benefit of owning your own home is you can do whatever you like. You can hang pictures with nails, paint walls, paint the outside, put up a deck, install a hot tub, plant roses or fruit trees. You can tear out the carpet and put in hardwood floors. You can cover up hardwood floors with carpet. The options are almost endless, but they are your choices to make. No having to ask a landlord. No having to think about getting a security deposit back later.
So if you’re ready to be your own landlord come talk to us at Gregory Home team and we’ll match you up with the home that fits your needs and wants.
Owner | Principal Broker
Gregory Home Team – Keller Williams