Now Is The Time To Consider Home Ownership
A FEW GOOD REASONS WHY HOMEOWNERSHIP IS BETTER THAN RENTING!
By Derek Ward
 
No doubt that purchasing a home is the largest investment you will probably make in your lifetime, but the rewards of homeownership are many and can bring tremendous benefits to your standard of living.

One of the key benefits of owning a home is the sense of independence it provides you. While renting an apartment may seem to offer a sense of freedom, homeowners have the flexibility to customize their domicile to fit their individual needs and personal tastes, rather than following the standards set by a landlord or property owner. Often, home improvements can be done to add value to a home while improving the owner’s satisfaction level and personal lifestyle. Homeowners typically have a greater interest in becoming involved in the future of their communities. With a feeling of belonging and an investment in the neighborhood, many homeowners are more likely to maintain the upkeep of their homes while contribute to the local economy by patronizing nearby businesses in their own area.
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Aside from the long-term social effects of owning over renting, there are many financial advantages as well. Unlike renting, owners are no longer subject to periodic rent increases. Homeowners with fixed-rate loans have the same mortgage payment for the entire life of the loan, unless they choose to refinance or pay it off early. In fact, when inflation occurs, a mortgage payment becomes “cheaper” over the life of a loan with a fixed interest rate. In other words, the payment amount remains the same each month, as the value of each dollar becomes greater over the life of the loan. Homeowners also have tax advantages that are not available to renters. The interest paid on every monthly payment can be up to 100 percent tax deductible. With this tax deduction, many people find that homeownership is ultimately less expensive than renting.
 


 

 

Social Security
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Unlike renting, which offers no return on the monthly outlay, the mortgage payments on a home usually pay down the principal balance of the loan each month. In doing so, the homeowner can eventually build equity in the home and remove that equity for increased purchasing power in the future. Renters never build usable equity because all their payments go to the landlord or owner of the property.
 
So, when is the right time to buy a home and invest in your future? Many real estate experts, say that it is always a good time to buy. However, if you’re looking to purchase a new home simply to make a profit, you might want to reconsider your decision. The real estate market in many areas across the nation has been on a decline and may continue to do so for a few more years. This is necessary to level out the tremendously inflated housing prices we’ve experienced in the past few years. The market is in the process of correcting itself and tends to do so every 7-9 years. As an investor, you will need to know and understand these trends if your sole intent is to simply profit by purchasing a home today.
 
 
However, with today’s interest rates at historically low levels and the numerous bank owned properties, now really could be an ideal time for you to consider purchasing a new home for the simple benefits of homeownership. Many homes that were selling for much more are now bargains for the person in the market looking to purchase a new home. This means a lower monthly mortgage payment for you each month and affordability that is unprecedented. There are a variety of home loan options available today and one may fit your situation and allow you to purchase a home at the same level of your current housing budget.

We can help you initiate a plan for all of these important steps to your financial health. We provide personal and professional service through our nationwide associated network. If you'd like more information, please email me at DWardEntp@yahoo.com or visit my website at: www.thefinancialeducator.blogspot.com We’re here to help.



About Derek Ward

As an accomplished multi-state mortgage broker, co-founder of the former First Federal Mortgage in Palmdale, CA Derek Ward is a nationwide financial educator.  Securing proper education and credentials, his goal was to be a resource to others so they would not experience the stress and turmoil he suffered when purchasing his first home.  He has since purchased and  sold numerous investment properties; brokered million dollar real estate transactions and now resides in an exclusive gated community north of Los Angeles, CA.

Ward is a man on a mission dedicated to educating consumers to the many financial choices available; but not often understood.  Promoting the legacy of debt freedom, he is now more intent on fulfilling his original aspiration to help others become financially educated and independent.

Ward is currently reaching out to families and homeowners nationally to address their needs and concerns through education and awareness. 

To find out more information on Derek Ward, please contact Jazzymyne Public Relations at makeda@jazzmynepr.com or visit his website at www.thefinancialeducator.blogspot.com