If you’re still renting, you’re missing out on the great advantages and savings of homeownership. Jeremy Walsh Real Estate is here to explain to you four reasons why becoming a homeowner is still a good idea.
Even in a down economy, owning a home is worth it. For one, you can receive a good deal on a home. The current market is definitely a buyer’s market. Prices have come down by 30% according to Standard & Poor’s Case Shiller Index. This index tracks home prices in 20 big cities.
Secondly, mortgages are very cheap. You can now get a 30-year loan for about 4.3 percent. These are one of the lowest rates the real estate market has seen in years. This drop in mortgage expenses will reduce your monthly repayment by a fifth of its normal payment plan.
Thirdly, you will save on taxes by deducting the mortgage interest from your income taxes while deducting your real estate taxes. This will help you get a tax break on any capital gains as well, if you ever decide to sell your home. Tax breaks can make the cost of owning a home less than renting.
Last but not least, you can be creative with your interior and exterior design because it will be yours. Have your dream kitchen and bathrooms created. Move walls. Paint your home your favorite colors. You have all the freedom in the world to enjoy what’s yours.
You need to be exclusively represented and have Jeremy Walsh (located in Baltimore, Maryland) on your side to handle all of the important details for you!