Why Buy a Home?

Pride In Ownership - Most people buy homes to have control over where they live. Although investment features are important, the psychological reasons for buying - the satisfaction of owning and freedom from paying rent are just as important. The National Association of Realtors conducted a survey of 6,000 homeowners and 2,000 renters and found that 76% of owners and 66% of renters considered pride of ownership an important reason for buying.

Dislike Paying Rent -  Close to 7 in 10 renters say that they dislike paying rent, but more importantly, they desire an owner's ability to control and modify a home's features.  "Make your home a reflection of YOU"!

Settling Down - More than 6 in 10 renters said "settling down' was an important reason to buy.

Good Investment - 76% of owners and 69% of renters said the investment aspect of ownership was important.

Long-Term Appreciation - People consider home ownership a good investment because they view it as a long-term venture. Historically, home prices have risen at relatively steady rates.

Leverage Investment - People borrow a great deal to buy a home, yet they receive the full benefits of price appreciation.

Source Of Savings - Home ownership always has and continues to comprise the single largest source of savings for American households.

Sacrifices Are Worth It - Almost 7 in 10 renters in the NAR home ownership survey said they planned to buy a home in the future. More than three-quarters of these people said they were willing to sacrifice to achieve their housing goals.

7 Reasons to Buy:

  1. Tax Deductibility of mortgage interest
  2. Tax Deductibility of Property Taxes
  3. Appreciation Potential
  4. Deferred Gain and Capital Gain Treatment
  5. Once in a Lifetime Exclusion
  6. Principal Accumulation
  7. You Can Enjoy It - Pride of Ownership