8 Reasons To Buy A House

8 Reasons to Buy A Home:

1. The pride of ownership - Home ownership gives you and your family a sense of stability and security



2. Appreciation - Although real estate moves in cycles, sometimes up, sometimes down, over the years, real estate has consistently appreciated



3. Mortgage interest deductions - Home ownership is a superb tax shelter and our tax rates favor homeowners.



4. Property tax deductions - Real estate property taxes paid for a first home and a vacation home are fully deductible for income tax purposes.



5. Capital gain exclusion - As long as you have lived in your home for two of the past five years, you can exclude up to $250,000 for an individual or $500,000 for a married couple of profit from capital gains.



6. Preferential tax treatment - If you receive more profit than the allowable exclusion upon sale of your home, that profit will be considered a capital asset as long as you owned your home for more than one year. Capital assets receive

preferential tax treatment.



7. Mortgage deduction builds equity - Each month, part of your monthly payment is applied to the principal balance of your loan, which reduces your obligation.



8. Equity loans - Consumers who carry credit card balances cannot deduct the interest paid, which can cost as much as 18% to 22%. Equity loan interest is often much less and it is deductible



For More Help On Your Home Buying Needs:

https://www.katiekteam.com/