There are many benefits of homeownership, but we have put together the top FIVE:
1. Savings: Owning a home is like investing in an automatic savings account. Your home appreciates over time, making it one of the best financial investments and increasing your household wealth.
2. Tax Breaks: Owning a home can unlock some of the biggest potential tax breaks most people have access to. The interest paid on a home loan is typically the largest potential deduction for middle-class Americans.
3. Equity: Buying a home is the largest investment most families will ever make and homeownership is the largest creator of wealth for Americans. It allows families to build financial security as the equity in their home increases.
4. Price Stability: Owning a home provides price stability. While a rent payment can change substantially from year-to-year, you will have the same monthly payment for 30 years under a fixed-rate mortgage.
5. Security: When you own, it’s yours. And it remains yours for a lifetime if you choose.
The Las Vegas Housing Market is still very strong! It’s a great time to buy. Don’t hesitate and start building equity today!
Home Loan Pre-Approval – Why It Should Be Your First Step when Buying a Home.
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