No question about it, home ownership is a big investment, maybe the largest you’ll ever make. But over time, it’s an investment that pays for itself many times over. Here’s how:
Tax Advantages
- Mortgage Interest is tax deductible
- Real estate taxes are tax deductible
- Local tax benefits (Florida Homestead Exemption)
- You can enjoy a tax-free profits up to $500,000 from the sale of a primary residence that you have occupies for tow of the last five years, if you are married and filing jointly. If you’re single or married filing separately, you can enjoy tax-free profits up to $250,000
Investment Benefits
- You build equity over time, which you take in cash when you sell your home
- The profits from home investments are often greater than from many other investments
- Because you can borrow against it in most states, home equity can be a source of emergency funding
- Land appreciation adds to the value of your home
- For many, home owning is an important part of retirement planning
Personal Satisfaction
- You gain more living space
- You enjoy the satisfaction and pride of home ownership
- Home ownership is, for many people, a sign of independence and achievement
It might seem like a long way from renting to owning, but many times, a little expert advice and creativity are all you need to make the leap. If you’re ready to own, contact me – I can guide you through the process and help make your dreams of owning a home come true!
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