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Reasons to Own
| Pride in Owning: |
Most people buy homes to have control over where they live. Although investment features are important, the psychological reasons for buying--the satisfaction of owning and the freedom from paying rent--are at least as important. In a recent National Association of Realtors (NAR) survey of 6,000 homeowners and 2,000 renters, 76% of owners and 66% of renters considered pride of ownership an important reason for buying a home. |
| Dislike Paying Rent: |
Almost 7 in 10 home owners admit that their dislike of paying rent was an important factor in their decision to buy. 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 rent check is just like watching your hard-earned money slip away. |
| Good Investment: |
76% of owners and 69% of rents said the investment aspect of ownership was important |
| Tax Advantages: |
Property taxes and qualified home interests are deductible on Schedule A for itemized deduction. |
| Long-Term Appreciation: |
People consider home ownership a good investment because they view it as a long-term venture. Historically, home prices have risen aat relatively steady rates. For example, existing home prices rose an average of 4% per year between 1980 and 1992 |
| Leverage Investment: |
People borrow a great deal to buy a home, yet they receive the full benefits of price appreciation. In the long run, investments in home greatly outpace inflation. |
| Source of Savings: |
Home ownership always has and continues to comprise the single largest source of savings for American households. Homeowners build equity and can borrow against it. |
| Sacrifices are Worth it: |
Almost 7 in 10 renters in the NAR home ownership survey said they planned to buy a home in the future. More than three-quarters of these people said they were willing to sacrifice to do that. |
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| Featured Home |
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627 N Iowa St
Olathe, 66061
$109,950 |
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