You may have been thinking about buying your first home, but have been scared off due to the rough market over the past few years. Yes the market crashed, but that was an inflated market. Today’s market is much more sound and home ownership is looking like a quality investment again.
There are many personal reasons for owning a home, but we are going to show you a few other reasons that you may not have thought of for owning your own home.
Why Owning A Littleton Home Is A Good Idea
Home Ownership Is A Great Savings Plan
When you make payments on your home, a certain percentage of those payments go towards the principal you owe on your home. The longer you live there, the higher percentage of your money goes towards this principal. When you are ready to sell you may have a serious amount of money invested in your home. The government eve allows you to report up to $250,000 in gains for single and $500,000 for a married couple on your home without paying taxes on it.
Your Payment Won’t Change
Rent has the tendency to go up every year. The beautiful thing about home ownership is that your payment will stay the same. Try this, find a couple in your neighborhood that has been there at least 20 years or more. Ask them what their home payment is, you will be shocked. Taxes however, will rise.
Pride In Ownership
There is something special about owning your own home. You can decorate, paint, remodel or do whatever you want to the home. It is yours. This often gives owners a sense of pride in their home that is not felt the same by renters. This is a good feeling.