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Temecula Realty
For many people, buying a home signifies both personal and financial success. When you're preparing for this important purchase, let Chris and Debi Styner help you find the home that fits your needs. We're professional realtors and longtime Southern California residents with the skills to make your real estate transaction a more enjoyable and lucrative experience. For additional information about our Temecula realty services, contact us at (800) 763-7154 or info@chrisanddebi.com. What Are the Benefits of Homeownership?
Buying your own home is often an excellent investment. Homes generally appreciate at a rate of between four and five percent per year. If you get a mortgage loan to purchase your new home with a 20 percent down payment, you could potentially earn an annual return on investment of as much as 25 percent. Homeownership provides significant income tax savings. The interest on your mortgage will be considered a tax deductible expense. For example, if you have a mortgage balance of $150,000 with an interest rate of eight percent, you could reduce your taxable income by nearly $10,000. To further reduce your income tax obligation, you can also deduct your property taxes from your gross income. If you're on a strict budget, owning your own home provides protection from unexpected rent increases. When you rent your home, your monthly housing expense will likely increase each year. When you get a fixed rate mortgage, you can expect to have the same monthly housing expense for 30 years. If you opt for an adjustable rate mortgage, your payment is still guaranteed to stay within a certain range for the life of your loan. Please contact us for more guidance on the financial aspects of homeownership: we will carefully and clearly advise our clients on the economics of purchasing Temecula real estate.
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