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8 reasons to buy a home 2.) Gains . Home gain value. Usually they are a good investment. Not the highest rate of return but a solid investment.. And while there's no guarantee of appreciation, a 2001 study by the NATIONAL ASSOCIATION OF REALTORS found that a typical homeowner has approximately $50,000 of unrealized gain in a home. 3.) Space. The amount of space you have is usually much bigger. The square footage of a home is usually much bigger than a rental. Plus you have parking space, storage space that is larger too. 4.) Stability . Remaining in one neighborhood for several years gives you a chance to participate in community activities, lets you and your family establish lasting friendships, and offers your children the benefit of educational continuity. 5.) Predictability . If you have a fixed rate your mortgage payments don't go up over the years so your housing costs may actually decline as you own the home longer. Rent will always go up over the years. However, keep in mind that property taxes and insurance costs will rise. 6.) Savings . Building equity in your home is a forced ready-made savings plan. And when you sell, you can generally take up to $250,000 ($500,000 for a married couple) as gain without owing any federal income tax. 7.) Freedom . The home is yours. You can decorate any way you want. You usually do not have to abide by any rules. You can make changes to the house and change the outside of it. You can have as many people living in it with out getting permission from the apartment manager.. So if you are thinking of buying a Wayne County home, Oakland County home, or a Livingston county home think of the freedom, the space. You could be calling a house your "own" Michigan home. good luck on house hunting. |