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 Why Purchase a Home Now: 12 Great Reasons
1. Tax Write off: Interest you pay on your mortgage, property taxes and private mortgage insurance are all tax deductible according to the U.S. Tax Code.
2. 2009 Housing Tax Credit: The Federal Housing Tax Credit of 2009 authorizes an $8000 tax credit for qualified first-time home buyers contracting homes on or before 4/30/10 and closing by 6/30/10.
3. Historically-low Interest Rates: Mortgage rates are lower than they’ve been in decades!
4. Home Value: Despite the dramatic drop in national home prices, the Charlotte Real Estate market has had a very small decline in value for single-family homes. In some cases, the median home values in Charlotte have increased making this a great market for buyers.
5. Equity: Rather than paying rent to a landlord each month, why not invest in a home where you will receive a return later? Instead of giving your money away, put it into your home, which time has shown can be a great investment.
6. Tax Deduction at Time of Sale: If you have owned your home for at least 2 years, you can take a tax deduction of up to $250,000 for an individual or $500,000 for a married couple for the equity you have built in your home.
7. Stability: Rent costs will increase over time. When paying a fixed rate mortgage, your payments remain the same. This is a great way to help you plan and manage your money so there are no surprises in your budget.
8. Establish Credit: Home ownership is a great way to either establish or improve your current credit rating. It makes you a solid part of the community, develops self reliance and gives you an appreciation of financial independence.
9. Pride of Ownership: You are the owner and can customize your home as you wish. You can utilize the home the way you want to without having to seek permission of a landlord. It is your home.
10. Satisfaction: Home ownership offers special advantages that make life more enjoyable – backyard barbecues, family gatherings, a home workshop and the chance to enjoy your family’s companionship in the privacy of your own home. Your children grow up in a familiar neighborhood and you begin to establish your own roots.
11. Do your part: Owning a home is an important part of our national economy. It provides stability to our communities and for the next generation.
12. Buying a LiveWell home is one of the best investments in real estate you can make.
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