Dispatch May 30: Why Owning a Home is a Game-Changer
June is National Homeownership Month, and I wanted to share why owning a home is such a game-changer. Whether you already have a place or are just starting to dream about it, there’s a lot to love about homeownership.
Why Owning a Home is Awesome
Owning a home isn’t just about having your own space (though that’s pretty sweet). It’s also a fantastic way to build wealth over time. Here’s the scoop:
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Building Equity: Every mortgage payment is like a little investment in your future. Unlike rent, which you never see again, mortgage payments build up equity—real value you can use down the road.
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Appreciation: Homes tend to go up in value over time, usually around 3-5% per year on average. 📈 And while there are ups and downs, the long-term trend is upward.
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Tax Perks: There are some nice tax benefits too, like deductions on mortgage interest and property taxes, which can save you some cash.
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Wild Rides in Home Values
That average appreciation of 3-5% per year is great, but sometimes things get crazy. For example, the pandemic caused a huge demand for homes in the Tahoe Basin, and home values jumped by up to 40% in 2021 compared to the year before. NUTS! 🤯
Thinking About Buying?
If you’re thinking about buying a home, now’s a great time to start planning. Chat with a financial advisor, get pre-approved for a mortgage, and start checking out neighborhoods you like. Homeownership is a journey, and every step is exciting.
Cheers to the coming month of June and National Homeownership Month! 🎉🏡
Here’s to building wealth, stability, and a place to call your own.
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