08/02/2020
AUGUST NEWS LETTER
Making the decision to become a home owner can be one of the most overwhelming, yet most rewarding, experiences of your lifetime. If you are currently in the market for a new home but are unsure where to begin, I can help. Let me start by sharing with you some of the many benefits of home ownership.
1. Build up a stronger financial future:
Owning a home is one of the fundamental means of accumulating wealth as we age. However, be sure to purchase a home that you can actual afford. Asset-wealth is a much more secure predictor of future financial stability than income.
2. Home ownership tax deductions:
You get a number of tax breaks for owning a home, most notably a deduction for the interest and property tax portion of your mortgage. The first year you buy your home you are also able to write off any mortgage points on your loan, which can lead to pretty significant savings.
3. Amass Equity:
Equity in your home builds as the value of your home increases and as you pay off more of your loan. Every single month that you pay your mortgage you own just a little bit more of your home. This is a big benefit over renting, where you're paying comparable monthly fees without any comparable stakes.
Current mortgage rates:
30-year fixed-rate 3.097%
15-year fixed-rate 2.681%
"The dream is free but the hustle is sold separately"- George "GK" Koufalis
