09/10/2021
3 Advantages To Owning A Home
1. Tax benefits
As a homeowner, you get to deduct both mortgage interest and property taxes from your annual income taxes.
If you’re a new homeowner, you enjoy even more benefits because most of the money you pay on your mortgage goes to interest.
2. Price appreciation
Another benefit of a home is that the value is likely to increase over time. If you stay in the house long enough (typically at least 5 to 7 years), you could profit when selling your home. Housing prices can shift for various reasons, including supply and demand, comparable sales prices in the same neighborhood, and population growth.
For example, in 2016 median sales price for a home in the Plainfield, IL area was $221,750 . In December of 2020, median sales price was $269,900
3. You’re Free to Create the Home You Want
Homeownership offers tremendous freedom to create the living environment that you have always wanted. You can own pets, paint rooms whatever color you like, make changes to floors and carpeting and do all the things that make a house your home – all without having to get approval from a landlord.
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▪️Inga Hamant, REALTOR ®️
▪️Baird & Warner
▪️630.999.5087
▪️Chicagoland
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