Financial Reasons for Purchasing a Home

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Many people are unaware of the multiple financial benefits that come with home ownership. Today, we'll discuss 3 of them:

1. Owning property is the only leveraged investment available: When you buy a home, it is more likely than not going to be worth more money when you try to sell it down the road. Buying a car or other large products has the opposite effect. A home is an appreciating asset if you buy right.
2. Forced savings: When you own a home, every payment you make is helping to build your equity and will save you money in the long run. When you rent you are essentially throwing money away unless it's a short term situation. 
3. Tax benefits: You can save money on your taxes by writing off your interest payments and depreciation. Home ownership is a hedge against inflation, especially when you have a long-term mortgage locked in.

These are only a handful of the many financial incentives of owning a home. If you have any questions about today's topic or are interested in buying in the Jonesboro area, give us a call. We would love to help your dreams of home ownership a reality!