Advantages of Owning New Homes
- Author Britney Kalo
- Published December 28, 2010
- Word count 370
Most people are quite apprehensive of buying a new house. There is pressure from family, friends and colleagues who seem happy and settled.
However, with the recent real estate bubble burst, it seems better to hold back than risk buying a house. There are good reasons for owning a house however. Below are some good reasons you should invest in owning a house:
Personal Freedom
Home Ownership offers you a source of pride and freedom. With your own house, the decision to make changes additions and renovations lies on you. You have more freedom in decorating, landscaping and expanding the size of the house.
Security and Privacy
Home ownership provides you and the family a sense of security. It also guarantees you privacy since no one may trespass or enter without your accent. You can pass the home down to your children and the house can remain a family possession for a life time.
Long term Value
The relative value of real estate is always appreciating. Only in rare occasions does the value of houses depreciate. Investment in a house is a cushion and hedge against inflation.
Tax Benefits
It is possible to deduct the interest on your home mortgage from your annual tax returns. Tax breaks will offset your overall costs of paying for the house. However, it is important to ensure you can afford making the full mortgage payments on the first place.
Equity Wealth
Home equity is the largest single source of household wealth in America. Most Home owners derive their living from investment in form of new homes. Even minority home owners attribute about three quarters of their median wealth in form of their houses.
Home ownership Contributes to your Eggs Basket
Buying a new house is a much better investment than purchasing a car for example. It offers personal financial security and independence giving you something substantial to show off. It can be quite distressing to retire with no home of your own.
Societal Value
Home ownership is a good way of building relationships among neighbours. It helps to strengthen communities and neighbourhoods, leading to a more stable society.
It also helps to generate jobs and stimulate economic growth for a town, city or county.
Britney Kalo is a journalist as well as an experienced content writer. She has more than 6 years experience in copywriting and journalism. Presently she is writing articles about new homes.
Article source: https://articlebiz.comRate article
Article comments
There are no posted comments.
Related articles
- How Architects Are Shaping Sri Lanka’s Real Estate Boom
- Directing Las Vegas Homes for Sale: How Live Better in Las Vegas Guides Buyers to Success
- Understanding the Renters' Rights Bill: Key Changes and Timeline Explained
- Costs of buying property in Spain - IMS Mortgages
- Three Easy Steps to Sell Your San Antonio House Fast!
- Discover Your Dream 55+ New Construction Home Community in the Greater Tampa Bay, Florida
- Article on Mortgage Lenders and New Homes Mortgage Helpline
- The Advantages of Utilising Professional House Removals Services
- Manilva: A Rising Star in Off-Plan Property Investments
- Comparing Removals services-in-wandsworth: Your Ultimate Guide
- Port Orange -- The Perfect Twin Sister to Daytona Beach
- RE/MAX Ace Spearheads Innovative Housing Solutions in the GTA
- Should You Waive the Home Inspection Contingency? Weighing the Risks and Benefits
- Avenir: Embracing Lifestyle and Community in Palm Beach Gardens
- Serbian Real Estate: A Tidbit for Investors
- Discovering Life in Pattaya, Thailand: An In-Depth Handbook for Expatriates
- DEBUNKING HOME REPORT MYTHS
- Don't Let a Financial Hardship Force You to List Your House
- Safe Water Starts at Home
- Don’t let Missing Insulation Lead to High Energy Bills
- Property Investors Amidst Favorable Swedish Krona Rates
- How Real Estate Professionals in Houston Go Above and Beyond for Home Sellers
- Reasons to invest in real estate in Cyprus
- Top 10 criteria to select an Insurance Claim Appraiser
- Comprehensive Home Inspection Checklist for Buyer, Seller, and Homeowner
- DEBUNKING HOME REPORT MYTHS
- North Carolina Real Estate Market: Shifting Market Dynamics on the way?
- Selling Your House in Winter: Effective Tips and Strategies for Success
- Would you like to have a Free House?
- 5 Ways To Know You're Ready To Buy A Home