Finally ready to say “bye bye” to renting and “hello” to owning a home? Great decision. In addition to the pride of home ownership, there are a handful of perks, including having the ability to yell “get off of my lawn!”
1. You’ve made an investment
Investment? Huh? Yes, you read correctly. Buying a home truly is an investment. Home values typically increase over time and build equity. Buy a home now, keep it in great condition and maybe even renovate a bit, and the home can be worth much more 5-10 years down the road.
2. You finally have privacy
First, you shared a room with your sibling, and that was terrible. Then, you went off to school and shared a tiny room with three other students. When you moved away to the city, you had an apartment to yourself, but shared a wall with an “up and coming” band that sounded more like your elementary school music class.
But now, you have a home. Your own home. You can talk to yourself, dance around in your underwear (if you’re into that kind of thing), and relax in complete silence when you want to. No landlord stopping by at unexpected hours or parties upstairs that kept you up all night.
3. You can decorate however you want
You can paint! Hang pictures on the walls! Tear out that nasty carpet! Finally, you really own a place and can make it what you want. Time to start binge-watching Fixer Upper.
4. Tax Breaks!
As a homeowner, you can receive tax deductions for a handful of things. These include purchasing points, your mortgage interest, and property taxes. To get the full rundown on each of these check out this article on MarketWatch.