Welcome to the mortgage tips blog. This sole purpose of this site is to give you interesting tidbits i.e. tips and tricks to understanding mortgage terms, what to look for in lenders, where to find the best mortgage leads just to name a few. Keep checking back for fresh ideas, time saving tricks and cash saving tips as well. With that being said let's begin today's article:
The Top 5 Reasons to Buy a Home :
1. Save on your income tax.
Yes, something good can come out of income tax. Due to income tax deductions, the government subsidizes your home purchase. Therefore all of the interest and property tax you pay throughout the year can be deducted from your gross income tax. A nice perk.
2. A Hidden Savings Account.
If you are anything like me, you can't save money to save your life. Seriously, my fiancee covers all of that, thank God. With being a home owner you actually save money two ways :
Each month a portion of your payment goes towards the principal, so not much at first but after 20 or so years, well you do the math. It will add up.Homes (if properly kept) appreciate in value. Again not much at first but the average appreciation value is roughly 5 - 6 percent. This by the way is per year. It is said owning a home is one of the very best financial decisions to make.
3. Your monthly payment is fixed.
How so you ask? Have you ever rented an apartment or a condo or a house for that matter? Chances are you probably have. Then one day a knock on the door and the - continued below ...
