Stop Throwing Your Money Away In Rent: Be Smart And Buy A Home!

Home Loans

Stop Throwing Your Money Away In Rent: Be Smart And Buy A Home!
(presented by www.refinance-refinance.net - mortgage lenders)

By Shawn Oconnor

WHY YOU SHOULD BUY:

Build Equity

It feels good when you realize that you are not losing money but it is actually working for you! As you are making your mortgage payment you’re building equity, which is the portion of the property that you actually own through your payments. As you continue to stay in your home and make more mortgage payments your equity continues to increase as well. Eventually you can use your equity in purchasing another property or investment.

Appreciation of housing value

Although housing prices can fluctuate, in general, housing prices go up over an extended period of time. When it’s time to sell this allows you to get more money back than what you have actually paid for. That’s a great deal when you consider the alternative of renting and having nothing to show for it!
My mom and dad owned a house in California for 3 years and then had to sell it for personal reasons. Atlhough they had not even paid one quarter of what the house was worth in payments, they still walked away with $100,000 dollars in their pocket! Their $250,000 dollar house had appreciated to nearly $350,000!

Stability and Freedom

When you own your own place you can decorate and renovate your home however you like. Further, by staying in a common location for a number of years you will provide stablility for your family and build a stronger network of people that know you in the community. A strong network of people comes in handy in the business world.

Financial Credibility

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HOME LOANS ADVERTISEMENT

Owning your own home helps you establish financial credibility with banking institutions. If you make your payments on time this will greatly increase your credit score and will definitley help you out a lot if you intend to finance in the future.

Independence

You can breath easy and be free from those pesky landlords who like to inspect your home and raise rent. Limitations on pets and remodeling will no longer apply to you.

Sat!
isfactio
n

Owning your own home provides you with a sense of satisfaction. You have worked hard for the money you have and you now have something to show for it.

Tax Benefits

Last, but definitely not least is the the tax advantages of home ownership, which allow you to deduct the interest paid on your mortgage. This tax break really adds up in the long run!

If you see the point of buying a home verse renting you can get excellent loan broker assistance and more information at Home Loan Online. www.homeloan-online.net

This article was written buy the management of Home Loan Online. Feel free to visit us and learn more about a home loan or start the process of getting approved for a home loan at Home Loan Online

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For additional Mortgage Refinancing information
and resources visit Mortgage Refinancing.
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This entry was posted on Tuesday, August 1st, 2006 at 4:19 am and is filed under Refinance. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.

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