1 – With today’s low interest rates, it is crazy not to buy!! When I first got into Real Estate in 2007 everyone was saying it was a
“Buyer Market” (market when there is high inventory and home prices are down). Rates were 6.5% and Buyers were scrambling to take advantage of the low rates. Well today’s rates have reached as low as 3.25% for a 30 year fixed rate. This is unbelievable. Your house payment for an average Louisville home with 3 bedrooms and 2 bathrooms could be as low as $750.00 as opposed to paying $1100.00 for a 2 bedroom apartment.
2 – Your home will bring you a tax break. Your apartment sure won’t. There any many benefits to owning a home and one of those are taxes. When you own your own home you are allowed to deduct the interest you pay on monthly mortgage. This can mean a difference between owing the IRS on tax day (April 15th) and receiving a refund.
3 – Value in your investment. Now that the housing crisis is behind us. Many home owners are experiencing home prices going up. It is now changing to a “Sellers’ Market” (Market where inventory is low and home values increase). Purchasing a home can be a good investment. Instead of losing money every month on rent, you may actually receive a return on your investment if you have to sell your home.
4 – Owning a home is a great way to increase your credit. Having good credit is a key to freedom. When you own a home, this will help your FICO score increase every time you make your mortgage payment on time. This is a significant boost to your credit score. When you rent an apartment, nothing if reported.
5 – A great way to make your home fit “YOU”. When you own your own home, you get to personalize it the way you want. You can paint any room whatever color you want. When you purchase new appliances it increases the value of YOUR home and not someone else’s. Any improvements you make on a home only provides you with value on your own investment. This is a freedom not afforded to you when renting.
For a list of homes in the Louisville and surrounding area, visit our Property Search page.
In today’s market there are so many benefits to owning a home as opposed to renting an apartment. Home ownership is an expression of fun and freedom that you can never experience when renting.