A Place of Your Own

Your home is your castle, as the old saying goes.  A home is a place to call your own.   Perhaps you are ready to settle down and want the feeling of permanence and involvement that comes with owning your own home.  Perhaps you need more living space.  Or maybe you want more freedom than you have in a rental unit to adapt your living space to your needs.

Financial Incentives

For many people, the motivation for home ownership is primarily financial.  Owning your own home is a first-rate investment for a number of reasons.

Scheduled Savings- when you buy a house, mortgage payments serve as a type of scheduled savings plan. Over time, you accumulate ‘equity’, an ownership interest in property that you can often borrow against or convert into cash by selling the house.

Stable Housing Costs- Rents typically increase year after year, the principal and interest portion of most mortgage payments remain unchanged throughout the entire repayment period.

Increased Value- Houses typically increase in value, or ‘appreciate’ over time.  The increased value is as good as money in the bank to the homeowner.

Tax Benefits- Interest paid on a home mortgage is usually deductible—this is a tax advantage not available to renters.