Owning a home has its benefits and drawbacks. However, the benefits far outweigh the drawbacks. In fact, they make them seem like small inconveniences. Many new buyers are often overwhelmed by the high price tag associated with a home purchase and continue to rent as a result. It is your job to make them see the perks of owning a home. Here are some helpful tips.
Teaching About Home AppreciationHomes are a safe and steady investment. While it is no secret that real estate has its good and bad seasons, it has constantly appreciated over the years. Most homeowners consider their investment to be a hedge against inflation. Appreciation is the biggest measurable financial benefit of owning a home. The recent real estate turmoil has shaken buyers’ confidence in homeownership. It is up to you to make your buyers see that homeownership is a clever financial move as long as they buy homes they can afford. If they stick to that rule, they will gradually build wealth.
Build Equity MonthlyThis is another big financial perk of owning a home. As your buyers pay for their new home each month, their obligation reduces. The reduction of the mortgage increases their equity. This is very true now that risky mortgages such as interest-only loans and negative amortized have been eliminated. As the years go by, homeowners increase their equity.
Tax Deduction Benefits
- Closing Cost Deductions
- Mortgage Deduction
- Property Tax Deductions