Change Your Life with Homeownership!

Owning a home has ups and downs...but if you've been renting, maybe it is time to make the switch to purchasing and enjoy the perks of Homeownership! Below are some ways that buying a home can change your life: 

1. Equity - The price appreciation of your home is the largest financial benefit to owning a home! Every mortgage payment you make, doesn't go into your landlord's bank account, you build equity in YOUR home.

2. Taxes - Tax savings is the second largest financial benefit to homeownership. Deductions allowed to you may include annual interest paid on the mortgage from your income, private mortgage insurance or fees paid at closing. All these items add up and benefit YOU monetarily!

3. Pride - Even though you may maintain a rental property diligently, when you OWN the home, the pride of ownership steps up a notch! It is now YOUR home and when people drive by or step inside, you want them to revel in the place you worked so hard to acquire!

4. Knowledge - The homebuying process lends itself to a great opportunity for learning about financing, feature updates/upgrades and neighborhoods in the local market. This knowledge is a great tool to assist friends and family that are contemplating purchasing. Not to mention, taking care of your own home, could actually make you more inclined to spend your money wisely and less frivolously.

5. Freedom - Home improvement stores, DIY projects and hours of HGTV will now be on your weekend schedule! Home ownership affords you the luxury of changing anything you want to suit your style and make it YOURS! Not only will these modifications personalize your home, but you can actually add value to the property.

Hopefully we gave you a few reasons to think about owning vs. renting and at some point, purchasing a home may be the best option for you. If/when that day comes, The Island Page Team is here to help you weigh out the options and guide you through the home buying process!