ಗುರುವಾರ, ನವೆಂಬರ್ 15, 2012

Seven Reasons to Buy a Property

Buying your first site is a milestone; it can be a true joy because it gives you the freedom to create your own abode -- and it can also have a tremendous impact on your bottom line. There are numerous reasons to buy a site, depending upon your family or financial situation. Owning a site can give you a sense of stability and security. Though the real estate market takes hits, historically, it also rises, which can lead to financial gain.

Security

A site has historically been a hedge against inflation.  A site can give your family stability and security because you can raise a family in the same neighborhood through the years.


Investment and Equity

When you make payments toward your site, banks will help to construct house, you are purchasing a major possession, whereas when you pay rent, you own nothing. If you are fortunate to buy a home that increases in value, which they historically do, you will have equity that you can tap into to make improvements, create a wealthy fund or use for emergencies. Even in a down market, if you hang on to your home for the long run, it's a safe investment that is likely to grow.

Improvements

You can make major improvements to your property and do with your own property as you wish. If you move into a home with a pink tiled bathroom, you don't have to try to disguise it or work with what you have. Permanent improvements increase the value of your property and enhance the joy of living in something that's truly all your own.

Tax Shelter

Owning a property provides numerous tax shelters that can significantly reduce your tax burden. You can use mortgage interest and property taxes as a write-off. If you use a portion of your home for business, your home office will also yield deductions, such as depreciation and some improvements. As a rule, the earlier you are into your mortgage, the more interest you may each month and the greater the tax break.

Low Interest Rates

Compared to past decades, interest rates are at historic lows. The lower the interest rate, the more house you may be able to buy with a lower payment.

Garden

When you own a home, you also own the property on which it sits. A garden or yard where you can relax, grill your dinner, plant roses or vegetables can be just as enjoyable as your abode.

Community Voice

Neighborhood property owners typically have a greater voice in policy-making than renters who tend to be more transient and not as firmly routed in the community. Issues concerning land development, local schools, zoning and traffic can be influenced by property owners through neighborhood associations.