Are you still sitting on the fence about buying a home in Southeast Georgia? If you are considering buying your first home, the thing to remember is that there are definite benefits to owning a home. According to a Freddie Mac report, here are the five benefits that “should be at the top of everyone’s list.”

  1. Homeownership can help you build equity over time.
  2. Your monthly payments will remain stable.
  3. You may have some tax benefits.
  4. You can take pride in ownership.
Let's look at these point deeper.

Homeownership can help you build equity over time.

According to the Federal Reserve's Survey of Consumer Finances, they report that a homeowner’s net worth is 36 times greater than that of a renter ($194,500 vs. $5,400).

Your monthly payments will remain stable.

If you puchase a home using a fixed rate mortgage, the majority of the payment remains stable, as opposed to rent prices that can rise at any time.

You may have some tax benefits.

According to the Tax Policy Center’s Briefing Book -“A citizen’s guide to the fascinating (though often complex) elements of the federal Tax System” – there are several tax advantages to homeownership.

Here are four items from the Briefing Book:

  • Mortgage Interest Deduction
  • Property Tax Deduction
  • Imputed Rent
  • Profits from Home Sale
You can take pride in ownership.

Let's be honest, this is the main reason people buy a home. It's yours. You can do whatever you want to with it. So take pride in your home!