4 Benefits of Owning a Home

Owning A HomeIntrepid Team
Written By Erin Alexander

SOURCE: Freddie Mac

Homeownership not only builds a sense of pride and accomplishment, but it's also an important step toward achieving long-term financial stability. Here are some of the benefits you can look forward to as a homeowner.

1. You Can Build Equity Over Time

Equity is the difference between how much your home is worth and how much you owe on your mortgage. As a homeowner, you'll build equity as you pay down your loan principal and as your property value increases (also known as appreciation).

Home equity contributes to your financial stability and provides an option when you need to access funds. You can use equity to finance home improvements, and when you sell your home, the net proceeds from your sale can be used as a down payment for your next home.

2. Your Monthly Payments Can Be Stable

Monthly rent payments may increase over time, but a fixed-rate mortgage will ensure that you're paying the same amount each month. With a fixed-rate mortgage, your interest rate is locked in for the life of loan. Steady payments allow you to budget wisely and make plans for the future.

When you're ready to buy a home, your lender can help you understand the different mortgage options available and determine which one is right for your situation.

3. Owning a Home May Offer Tax Benefits

Homeowners may be able to claim tax deductions on their mortgage interest and property taxes.

4. You Can Create the Home You Want

The ability to create a space for you and your family to call your own is invaluable. As the homeowner, you have the freedom to adopt a pet, paint the walls any color you choose, renovate your kitchen, and more. You can customize your own space without approval from a property manager.

Of course, along with the freedoms of homeownership come responsibilities, such as making your monthly mortgage payments on time and maintaining your home. But as the property owner, you'll be caring for your own investment.

SOURCE: Freddie Mac

Erin Alexander

At Finally Social we are a marketing one stop shop for Real Estate agents, Mortgage Brokers and Coaches. We create/audit Social Media Platforms, SM Posting, design & maintain websites, email marketing, branding, & logos. Also marketing collateral: custom images, publications, brochures, flyers, postcards, & magazines.

Erin Alexander is the CEO and founder of FinallySocial.com, a social media and online marketing agency that helps business owners to grow their brand, generate quality leads and convert those leads into profits from social media marketing.

With experience in digital advertising experience, Erin's proven strategies, have helped business owners to effectively get in front of the right customers and clients to significantly grow their bottom line.

Finally Social offers website designs to small business owners as well as create or define their social media platform. We also offer individual services: Newsletters, Web Sites, Visual Tours, Postlets, Listing Flyers, YouTube, Follow Up Process, Update sales on Zillow and Trulia, and Referrals.

Being an active member in her community, Erin loves connecting other business owners, referral partners and non-profits in her local community.

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