09/10/2024
Are you STILL debating buying (residential or commercial) real estate vs. renting? Here are a few KEY BENEFITS to consider...๐
๐Appreciation. Historically, real estate has had long-term, stable growth in value and served as a good hedge against inflation.
๐Equity. Money paid for rent is money that youโll never see again, but paying your mortgage month over month and year over year lets you build equity ownership interest in your home and have the option to draw money for misc life expenses.
๐Tax Benefits. If you itemize deductions on your federal tax return, the U.S. Tax Code lets you deduct the interest you pay on your mortgage, your property taxes (up to $10,000 according to current tax law), and some of the costs involved in buying a home.
๐Savings. Building equity in your home is a ready-made savings plan. And when you sell, you can generally exclude up to $250,000 ($500,000 for a married couple) of gain without owing any federal income tax.
๐Predictability. Unlike rent, your fixed-rate mortgage payments donโt rise from year to year. So, as a percentage of your income, your housing costs may actually decline over time. Freedom. The home is YOURS! You can decorate and renovate any way you want and choose the types of upgrades and new amenities that appeal to your lifestyle.
๐Stability. Remaining in one neighborhood for several years allows you and your family time to build long-lasting relationships within the community. It also offers children the benefit of educational and social continuity.
If you or someone you know is ready to BUY or SELL, contact our team today to discuss your options!
LC Real Estate Group
682.231.1040 | [email protected]
thelcrealestategroup.com
Book a Call: https://calendly.com/lcrealestate
Reference: 2024 National Association of REALTORSยฎ