Page 12 - TedBookBuyer2023

Good Reasons for

Home Ownership

Pride in Owning: Most people want the freedom to choose what their home environment will look and feel like, home
ownership allows this by allowing you to select paint colors, flooring, and fixtures to name just a few. Although investment
features are important, the psychological reasons for buying - the satisfaction of owning and building equity - are just as
important. In a recent National Association of Realtors (NAR) survey of 6,000 homeowners and 2,000 renters, 76% of owners
and renters considered pride of ownership an important reason for buying a home. Homeownership also gives you and your
family a sense of stability and security. It’s investing in your future—equity that will grow with you the longer you are in the
home.

Dislike Paying Rent: Although renting offers a lifestyle that’s nearly maintenance free, it offers you no equity, no tax benefits,
and no protection against regular rent increases. Writing a check is just like watching your hard-earned money slip away.
Almost 7 in 10 homeowners admit that their dislike of paying rent was an important factor in their decision to buy.

Tax Advantages: Qualified home interest and property taxes are deductible on Schedule A for Itemized deductions.

Source of Savings: Homeowners can build equity and borrow against it. Home ownership always has and continues to
comprise the single largest source of savings for American households.

Leverage Investment: Most people borrow a great deal to buy a home, yet they receive full benefits of price appreciation. In
the long run, investments in homes greatly out-pace inflation.

Good Investment: A home is often the largest asset an individual has and is considered one of the most valuable investments
available. Although real estate values move in cycles, housing values have consistently appreciated. 76% of homeowners and
695 of renters said the investment aspect of ownership was important.