With the financial crisis still being played out, many people are scared to buy a home. However, there are many people selecting their homes right now and buying them up still. Why? Here are some reasons why.
The interest rate on your mortgage is super low if you buy a house right now. You can literally use someone else's money to make lots of money in this housing market right now. Of course, you will need perfect credit but those that do are taking advantage as we speak.
So many homes are on the market these days. Therefore, sellers will compete for your money and do whatever you tell them to do. You can get a free refrigerator, or a new HDTV if you negotiate well.
You don't have to be a tenant forever. With your own house, there are no more increases in your monthly rent and there is for sure spaces for your cars.
Having a yard where you own is great because you can have your own vegetable garden. I know people that actually sell their crops to make money.
Tax deductions are probably one of the major benefit of owning a house. Whether it's property taxes or the interest on the mortgage payment, it can be used to deduct taxes.
Capital gains from selling houses are also great for home owners. If you lived in your house for the last 2 years, you won't have to report a capital gain if you sell your house for up to $250,000 ($500,000 if you and your wife owns it and is filing jointly).
Now onto the American dream. Who doesn't want that? When you buy, the pride factor should be worth the price alone.
Monthly payments will be big but that means you will learn to spend less. This is an automatic savings program because you will get a huge tax refund, in which case you can save it all up. - 15224
The interest rate on your mortgage is super low if you buy a house right now. You can literally use someone else's money to make lots of money in this housing market right now. Of course, you will need perfect credit but those that do are taking advantage as we speak.
So many homes are on the market these days. Therefore, sellers will compete for your money and do whatever you tell them to do. You can get a free refrigerator, or a new HDTV if you negotiate well.
You don't have to be a tenant forever. With your own house, there are no more increases in your monthly rent and there is for sure spaces for your cars.
Having a yard where you own is great because you can have your own vegetable garden. I know people that actually sell their crops to make money.
Tax deductions are probably one of the major benefit of owning a house. Whether it's property taxes or the interest on the mortgage payment, it can be used to deduct taxes.
Capital gains from selling houses are also great for home owners. If you lived in your house for the last 2 years, you won't have to report a capital gain if you sell your house for up to $250,000 ($500,000 if you and your wife owns it and is filing jointly).
Now onto the American dream. Who doesn't want that? When you buy, the pride factor should be worth the price alone.
Monthly payments will be big but that means you will learn to spend less. This is an automatic savings program because you will get a huge tax refund, in which case you can save it all up. - 15224
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