You know you want to start a new home to start the next chapter in your life, but have you considered all of the benefits of owning your own home?
Pride of Ownership-Give you and your family security into the future with the most important investment of your life. No landlord to restrict how you choose to decorate your home.
Appreciation-While dependent on fluctuations in the property market, property value does appreciate consistently over time.
Exempt from Capital Gains Tax-Providing you use your home as your primary residence for the entire period that you own it, when it comes time to sell all the profits from your sale will be tax free.
Mortgage Interest Deductions-Mortgage interest is deductible on your tax return provided the balance on your mortgage is smaller than the price of your home.
Mortgage Reduction Builds Equity-As monthly repayments reduce the amount owing on your pinciple balance, the principle portion and interest payment increases slightly with each month. This means that on average each $100, 000 of a mortgage will reduce in balance after the first year by about $500, reducing the balance to $99,500.
Equity Loans-Home owners can pay off debt with a home equity loan by borrowing against a home’s equity for a number of expenses including, home improvement, university or medical c