Why Purchase a Home?

Why Purchase a Home Article

In addition to owning your own space and gaining the freedom of homeownership, purchasing a home is a major investment towards financial success. Alongside the numerous benefits of owning a home, homeowners have a net worth that is 40 times greater than renters.

Key Benefits of Homeownership:

  • Home Appreciation
    • The value of your home can grow increasing your home equity.
    • Homeowners can use the equity for a remodel, debt consolidation, or student loan repayment.
  • Financial Investment
    • Owning a home is a step towards building wealth. It is an asset homeowners can continuously tap into and invest in. Homeowners can utilize the equity within their home for renovations, student loan payments, and debt consolidation. Homes will always be in demand and with the recent increase in home appreciation rates, homeowners can make a profit when selling their home.
  • Stability
    • Homeowners have a set and consistent mortgage payment throughout the life of the housing loan. The only way the payments will alter is if homeowners’ insurance or taxes fluctuate.
    • Homeowners can stay in one location and not move around due to rent increases or affordability difficulties.
  • The Freedom of Home Ownership
    • As the owner you can decide on the layout, decoration, and design of your space.
  • Community Impact
    • Homeowners can plant their roots with a permanent place to raise a family or settle down.
    • They can also be part of committees to help make changes or improve the neighborhood.

Before purchasing a home, ask yourself the following questions.

  • What are my financial goals?
  • Am I prepared for a long-term investment?
  • Do I want stability or flexibility?

For more information, chat with us at callhallfirst.com or give us a call at 866-Call-Hall.