North American Realty of Las Vegas, Nevada
 
 
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The Upside to Home Ownership  
Wednesday 11 January, 2006.  
The Upside to Home Ownership

  • Let's start with the basics. Owning your own place gives you peace of mind. If you are ready to settle down in your community, you'll enjoy the established feeling of ownership.
  • Establishing Equity. When you own your home, each payment you make establishes 'equity' in your house. This is an ownership interest in the property that you can convert into cash when you sell the house. These are also funds which you can borrow against when you refinance or open a home equity loan in the future. As a renter, you do not have this option.
  • Static monthly payments. While your rent payment has a tendency to climb each year, a mortgage payment usually stays the same year after year, depending on your home loan. Inflation, for the most part, does not affect your mortgage payment. This assumes of course that your home loan is a fixed rate - an Adjustable Rate Mortgage could mean a fluctuating payment 3, 5 or 7 years down the road.
  • A home is generally an appreciating asset. Houses typically increase in value over time. A home you purchase for $275,000 today could be worth a lot more in 10 years. That extra money you realize through the sale of a house is yours.
  • Tax benefits. The interest paid on a home loan is usually tax-deductible. That's a significant savings, particularly in the early years of ownership, when the bulk of your payment is comprised of interest.

    •  The Upside to Home OwnershipHome Ownership01/11/2006
     Selling your own homeSelling Your Home01/10/2006
     Open House AdviceOpen Houses01/10/2006
     8 Tips to Home OwnershipHome Ownership01/10/2006



     



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    North American Realty of Nevada
    3007 W Horizon Ridge Pkwy Suite 201
    Henderson NV 89052
    Phone: 702-216-4888  Fax: 702-216-4877