Financial Perks Of Homeownership

Homeownership BenefitsTo Rent Or Buy? That Is The Question

If you have been on the fence for a while now about whether or not to purchase your dream home or continue renting, it is imperative that you consider the financial benefits associated with homeownership. While there may be immediate expense increases when you initially purchase a property, there are a wide range of homeownership benefits that outweigh those costs. Gathered is a list of reasons why it may be a smart financial move to finally buy your dream home:

  • Homeownership is a financially savvy move because it allows you to build wealth over time. However, if you purchase a property that you cannot afford this will not be the case.
  • When you buy a home, you are choosing to build equity month after month. Each time you make a mortgage payment you are reducing the amount you owe on your loan. This means you are increasing your equity as you submit each payment.
  • When you have a mortgage, you get to enjoy mortgage tax deduction benefits. Both your closing costs and your property taxes will also be deductible, meaning a less daunting tax year to follow.
  • Most importantly, in the long run buying a home is much cheaper than renting a property. While you may see a rent payment as cheaper than a mortgage payment, the interest portion of your mortgage will decrease year after year, meaning a less expensive amount than if you were to have continued renting.

So you can get the knowledge you deserve, contact Avis Lending. We are here to help you be armed with the education you need to ensure every step of your lending process goes smoothly. With offices conveniently located in Irvine, California and Lahaina, Hawaii, we are here to serve as your one-stop shop to all of your west coast home loan needs.

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