Typically with financial decisions it is always a numbers game. Whatever makes the most sense financially will be blatantly obvious by looking at the numbers. With home ownership, the same is true – but there are added benefits to consider.
pride of ownership
Pride of ownership is the number one reason why people yearn to own their home. It means you can paint the walls any color you desire, turn up the volume on your home theater system, attach permanent fixtures and decorate your home according to your own taste. Home ownership gives you and your family a sense of stability and security. Not to mention establishing your green thumb and starting your own garden – or enjoying your own privacy by building a custom fence in your backyard. The opportunities are endless. It’s making an investment in your future. Not to mention watching Transformers 2 on that custom home theater system will be amazing!
appreciation
We’re not talking about just ‘appreciating’ your home for the fact that it is your home. We’re talking real money here. Although real estate moves in cycles, sometimes up, sometimes down, over the years, real estate is always consistently appreciating in value. With average annual appreciation of 6%, building equity in a property is rewarding to say the least. Making $50,000 in equity in your home can be easier than you may think.
For instance: take a home valued at 250k.
1st year: 250k + 6% = $265,000
2nd year: 265k + 6% = $280,900
3rd year: 280,900 + 6% = $297,754
4th year: 297,754 + 6% = $315,619
mortgage reduction builds equity
Each month, part of your monthly payment is applied to the principal balance of your loan, which reduces your obligation. The way amortization works, the principal portion of your principal and interest payment increases slightly every month. It is lowest on your first payment and highest on your last payment.
rates are insane
In fact, rates are so well below historic averages that it should make all current and prospective homeowners take notice of this once-in-a-lifetime opportunity. Your looking at special products and rates that can be below 5% APR! Couple that with incredibly low home prices? Just look at a Rent VS Buy calculator. The rent vs. buy calculator will allow you to consider the other payments that you are going to have to make if you own a property. These types of fees include taxes, insurance, and other homeowner fees to see if owning a home is the right financial decision for you. One of the best calculators we’ve seen is offered by the New York Times and can be found by clicking here: http://www.nytimes.com/2007/04/10/business/2007_BUYRENT_GRAPHIC.html The time to move is now!
Your best days are ahead.
Get started right now – it’s easier than you think!
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This was 100 percent worth taking to heart.
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