Your career, your first car, marriage and children: Whatever you view as key life milestones, buying your first home certainly qualifies as one. Buying can be a sound financial decision, and we can help you get on track to start experiencing the benefits of home ownership.
Landlord disputes, rising rental fees, canceled leases or unfavorable living situations can make renting a hassle. Buying your own home puts you in control, allowing you to customize your personal living space.
First-time homebuyers enjoy the luxury of identifying their needs and filling their home with what they want. From interior décor to exterior paint, you choose what goes into – and onto – your home.
Buying a home isn’t just about location – it’s about people, too. Shopping for your first home is the ideal time to identify the community you would like to be a part of and join. Entering into a community you enjoy offers long-term benefits for you and your loved ones.
Owning a home increases your assets, which can open up opportunities for other investments. Once you’re a homeowner, you may be able to use your home’s equity as a secure line of credit for future purchases. Credit is vital to acquiring new purchases, such as a car or vacation home, and meeting your mortgage payments on time is one of the best ways to build good credit. Improving your credit also puts you in position for lower interest rates on future loans – which means your home investment can pay off, now and in the future.
Financial benefits vary by state and market conditions, so check with your real estate agent and accountant for details.
The benefits of homebuying abound – and they can add up come tax time. You may be able to deduct your mortgage interest, real estate property taxes, discount points or other items. Consult with your tax advisor for details specific to your individual situation.