BUYING A HOME COULD BE
MORE ATTAINABLE THAN YOU THINK
The decision to buy a home versus rent isn’t just about numbers It’s about building a foundation for your future. Despite some beliefs, homeownership is often more achievable than it appears. Although renting might seem like an easier choice, it usually lacks the long-term financial advantages that come with owning a home.
Texas’ diverse and robust housing market, along with affordable home options and programs, makes homeownership an attainable and worthwhile investment. With Empire Communities, you can explore homes in prime locations and diverse communities, catering to various lifestyles and budgets.
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The Financial Benefits of Homeownership No One Told You About
Owning a home isn’t just a dream; it’s a wise financial decision that can pave the way for long-term success. Here’s how buying a home can help you build wealth: The Financial Benefits of Homeownership No One Told You About
Amortization Benefits
Amortization lets you steadily pay off your mortgage, reducing your loan balance and increasing your equity with each payment. This growing equity means more of your money is going toward building your own wealth, rather than someone else’s.
Leverage Your Investment
Homeownership lets you transform a modest down payment into a valuable, tangible asset. By leveraging your initial investment, you control a property that can significantly increase in value, offering substantial returns over time.
Tax Benefits
Owning a home offers valuable tax benefits. You can deduct mortgage interest and property taxes, reducing your taxable income. Plus, if you sell your home after living in it for two years, you may enjoy tax-free profits, enhancing your investment’s value.
Long-Term Appreciation
Real estate tends to appreciate over the long term, making homeownership a wise investment. As your property value rises, so does your net worth, helping you build wealth steadily over time.
Is Homeownership Out of Reach?
Despite common misconceptions, homeownership is more within reach and advantageous than it may seem. By purchasing a home, you can turn a modest initial investment into substantial long-term wealth through leverage.
For example, if you buy a home for $350,000 and put down 5%, that’s just a $17,500 investment. By working with a preferred lender, you can finance the remaining 95% of the purchase price and keep all the profits when you sell.
If your home appreciates at an average rate of 5% per year, its value could increase significantly over ten years. This growth could turn your initial investment into a substantial return—more than 10 times your original investment—just by consistently making your house payments.
Mortgage Affordability Calculator
Understanding what you can afford is the first step in your home-buying journey. Our mortgage and budget calculator help you estimate monthly payments and budget effectively. By adjusting home prices, down payments, and interest rates, you can explore different scenarios and find the best fit for your financial goals.
Connect with Our Mortgage Specialist
Need help navigating your home financing options?
Talk to Benny Solis, our Mortgage Specialist, who can assist with pre-qualification and answer any questions you have about financing.
Contact Details:
Name: Benny Solis, Sales Leader
NMLS: #743526
Email: bsolis@sfmc.com
Mobile: 713-202-0100
Website: sfmc.com
Address: 5408 W. Plano Pkwy, Plano, TX 75093