The past few years the news has been inundated with bad press about the housing market but the facts remain the same it is still better to own a home. In fact, there are more reasons than ever to buy a home. If you are on the fence about buying you will want to take note of some of the benefits of homeownership.
Pride of Ownership
It belongs to you! That’s right, renovate, update, paint, and decorate to your heart’s desire and you don’t need to ask permission or waste money improving something that you do not own. Your home is your own so plant trees, install a pool, put up a fence, expand the patio, redo the basement or do anything you want. Owning something feels good.
Homeownership is about building long-term wealth. It may seem that buying a home has a lot of upfront costs but historically homes appreciate by about 4 to 6 percent a year. When you purchase a home, you build equity with each payment. Equity is the difference between what the home is worth and what is owed. Equity can be used to build wealth, save for retirement and even to secure a loan. For example, an $800/month rent payment equals out to be $48,000 over five years with no financial gain to you.
Homeownership has huge tax benefits. In the early years of a loan, mortgage interest is the largest part of your mortgage payment. Mortgage interest is fully deductible on your tax return. For example, a homeowner in a 28% federal tax bracket could lower their borrowing costs by almost a third.
Studies have shown that owning a home can actually make you healthier, and is better for your family too. The U.S. Department of Housing and Urban Development (HUD) report: says “Homeowners accumulate wealth as the investment in their homes grows, enjoy better living conditions, are often more involved in their communities, and have children who tend on average to do better in school and are less likely to become involved with crime. Communities benefit from real estate taxes homeowners pay, and from stable neighborhoods homeowners create”.
The National Association of Realtor’s Social Benefits of Homeownership and Stable Housing reports homeowners experience:
-Higher educational performance and better behavior of children
-Lower community crime rates
-Lessened welfare dependency among households
-More household participation in civic affairs
-Better household health
Bottom line, it’s a great time to buy! Interest rates are at historic lows; homes are more affordable so go ahead and invest in a safer, healthier, better future for you and your family today.
The home office can quickly become the catch-all. How can you keep your home office clean and workable? Here are few tips to keep your home office in tip top shape and ensure you have ample space for work and storage.
1. Have adequate work space
When laying out or reorganizing your home office make sure you have ample space for work and storage. Make a designated space for computer hardware and peripheral equipment, a spot for reference materials, file space and a location for frequently referenced supplies and paper.
2. Create centers
Zone your home office into activity areas. Set up a clear workspace, a reference center and a supply center. Having designated spaces for things will help keep your organized.
3. Wrap it up
Bundle unsightly wires together to cut down on cord clutter. Use a surge protector to for electronic equipment.
4. Create an immediate action center
Create an area that is easily accessible and within your view for items that need immediate action. Establish a permanent filing system for papers you will reference, but not on a regular basis.
Follow these simple tips and your office will be organized in no time.
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Wellesley MA Listing
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