Information for First Time Buyers
You are in the midst of a buyers' market, there hasn't been a better time to buy in years!
Mortgage rates are low, sellers are motivated, owning a home is a great investment in your future, and can lead to many, many years of happy memories.
So why wait? It is a great time to buy!
Benefits of Ownership
Owning a home is the American dream. A home not only provides financial benefits but it also provides shelter and security to families. Did you know that:
- Home owners move less often and are more likely to vote and volunteer time for political and charitable causes than renters?
- Children of homeowners tend to perform better in school and attain higher levels of education than children of parents who do not own a home?
- Dollar for dollar, the rate of return on an individual's cash down payment on a house is substantial? Given the leverage in purchasing a home, the average return on a 5% down payment over 10 years is usually three to five times greater than stock market returns?
- When you own a home you may be able to deduct the property taxes and mortgage interest from your income taxes?
- In most cases the gains that you make when you sell your primary residence are tax free?