Why You SHOULD OWN a Home - 5 Reasons

It's a Great Time to Buy Real EstateDee Sufnar,  Realtorwww.DeeSufnar.com

5 Reasons YOU Should OWN a Home

1.) Housing is typically the one leveraged investment available.

“Few households are interested in borrowing money to buy stocks and bonds and few lenders are willing to lend them the money. As a result, homeownership allows households to amplify any appreciation on the value of their homes by a leverage factor. Even a hefty 20 percent down payment results in a leverage factor of five so that every percentage point rise in the value of the home is a 5 percent return on their equity. With many buyers putting 10 percent or less down, their leverage factor is 10 or more.”

 NOTE: You do not have to put 20%, 10%, or even 5% down on a home, especially is you are a first-time homebuyer. There are many mortgage programs that offer 100% financing including VA, Rural Housing, and My Community programs.

2.) You're paying for housing whether you own or rent.

“Homeowners pay debt service to pay down their own principal while households that rent pay down the principal of a landlord.” 

 NOTE: Owning a home has tax advantages as well as equity options. When you rent, you are giving those incentives to the owner.

3.) Owning is usually a form of “forced savings”.

“Since many people have trouble saving and have to make a housing payment one way or the other, owning a home can overcome people’s tendency to defer savings to another day.”

NOTE: Forced savings can also mean spending less money when you own a home versus renting a home. Rents are consistently going up year after year. If you opt for a fixed rate mortgage, your mortgage payment is the same for principal & interest.

4.) There are substantial tax benefits to owning.

“Homeowners are able to deduct mortgage interest and property taxes from income...On top of all this, capital gains up to $250,000 are excluded from income for single filers and up to $500,000 for married couples if they sell their homes for a gain.”

NOTE: Consult a tax advisor for all the benefits available including energy savings advantages, home improvement advantages, and homestead advantages.

5.) Owning is a hedge against inflation.

“Housing costs and rents have tended over most time periods to go up at or higher than the rate of inflation, making owning an attractive proposition.”

NOTE: A fixed rate mortgage stays the same while your landlord will increase your rent year after year.

Bottom Line

We realize that homeownership makes sense for many Americans for an assortment of social and family reasons. It also makes sense financially. If you are considering a purchase this year, give us a call to help evaluate your ability to do so. We have several local mortgage lenders that will help get you prequalified. 

Dee Sufnar Real Estate Consultant

Halloween Safety Tips

Halloween Safety Tips

Let’s be safe this Trick or Treat Season, even if you don’t have children there are things you can do to help keep all of your Trick or Treater’s safe. 

Here are some Halloween safety tips to make sure your kids come home safe and happy:

Costumes:  Children  will be running from house to house, so make sure their costume is suitable for running; not tight, not too loose, and have them where tennis shoes.  If the costume requires a mask or make-up, make sure that your child can clearly see.  Keep Capes from dragging and any extra “bling- bling” is easy to carry or will not hinder their walking.  Remember if they can’t carry Mom or Dad may end up doing that. 

Reflecting and flashlight – It’s going to be dark out by the time you go home, so make sure cars can see you at night. Put reflective tape on the costume and trick or treating bags.

Walking – Use sidewalks, and designated walk ways, Remember cars are going to be looking for you but you need to look for them. 

Never go ALONE – Kids should never go trick or treating along.  Always go with a sibling, friend, in a group and always have a parent nearby. If they are going out without parents, make sure you know the area where they will be trick-or-treating and have your cell phones and check in with Mom and Dad

Time – Go at the designated times set by your local community.  If you aren’t going trick or treating with your kids, set a time that they need to be home by or a time for them to check in with a phone call. That way, you know that they are safe.

You can always check your local police department web site for additional information on Trick or Treat Candy check locations.  Many times the hospital will X-Ray candy for you too.

Never go into a stranger’s house – Only get candy from houses that give it to you at the door. If someone invites them in, tell them to just say “no, thanks” and leave immediately.

Don’t Eat any Candy before its Checked – Make sure none of the candy is open or looks like it was tampered with. If you have small children, make sure the candy is not a choking hazard. Throw away any homemade candy/cookies or baked goods unless you know personally the person that made them.

Drivers – If you are driving from location to location, go extra slow and take your time.  Please watch out for the children… they are our future!!!

Remember… ghouls and goblins… have fun, but be safe.