In The News
Seven Reasons to Buy Your First Home
October 19, 2009 by Samuel Gibson Jr · Leave a Comment
Samuel Gibson Jr NV-MLD 3080 Branch Manager
1. Free Money. The $8,000 tax credit for first time buyers is valid before December 1, 2009. This special tax credit from the government that you don’t have to pay back, as long as you stay in the home for at least 36 months.
2. Affordability. Based on recent property declines and current interest rates, home affordability has not been higher since it was tracked over 40 years ago. Your grandparents couldn’t have received a better interest rate than you can today.
3. Tax Breaks. The IRS allows you to deduct the interest you pay on your mortgage, your property taxes and, in many cases for those who qualify, some of the cost to buy your home and mortgage insurance. Owning a home a home is a great way to lower your tax bill.
4. Appreciation. As home prices have fallen precipitously in today’s tough economy, the basis for realizing appreciation in future years is very strong. Historically, even with other periods of declining value, home prices have exceeded consumer inflation. From 1972 through 2005, home prices increased on average 6.5% according to the National Association of Realtors.
5. Stability. Knowing you can establish roots and raise a family in one location, free of the desires or needs of your landlord to sell the property you are living in. This is something no other investment provides. you can’t live in a stock, and you cant raise your kids in a bond.
6. Build Wealth.Unlike paying rent, with each mortgage payment you make, you build equity and you decrease your income tax liability. Owning a home is still the best long-term investment.
7. Independence. Enjoy the freedom to do what you want to your home. After all, it’s yours to do what you wish. And, with any improvements you make, you have the ability to benefit from your investment. Try that with an apartment!
Direct Access Lending NV-Broker #405
650 White Dr #200
Las Vegas, NV 89119
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email: samuel.gibson@dalusa.com
