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Janis Peterson, GRI, Realtor®

Philadelphia Main Line Homes and Real Estate

Tel:  (610) 642-3744

Fax: (610) 658-0267

E-mail: jp4re@pahomes.com

www.pahomes.com

Subject: Home Ownership Has Its Benefits
Do you ever lie awake at night wondering about whether to take the plunge and purchase your first home? Before you lose any more sleep, take a moment to consider the benefits of homeownership.

Pride of Ownership. Owning your own home can increase self-esteem and personal pride. The satisfaction that comes from feeling connected to the land you occupy and the home in which you live is ages-old. Few accomplishments in life are as enduring or enriching as the experience of owning in your own home.

Tax Benefits. In the United States, the cost of home mortgage interest and property taxes is usually tax deductible. For many homeowners, they see tax benefits as the principal financial benefit of home ownership. Depending on your circumstances, you may save a considerable amount in taxes. Of course, you should always consult a real estate professional, tax specialist or investment advisor about your specific circumstances.

Investment Appreciation. No one can guarantee if or how a property will appreciate. If the value of your home increases to the point where you can sell it for more than your purchase price, that difference in value is called appreciation. You can reinvest that appreciation in other real estate or you may want to downsize and keep the value of that appreciation for retirement or other purposes.

Building Equity. When you own your own home, you "pay rent" to yourself instead of a landlord. Most homeowners pay for the property by obtaining a mortgage. As you pay off that mortgage, your equity builds and you gain an increasingly larger share in a valuable asset.

Financial Predictability. When you buy a home with a fixed-rate mortgage, you have more predictability over future housing costs. Because your interest rate never changes, the amount of your payment never changes, unlike rent payments that can be periodically raised.

Decorating. Homeowners are free to redecorate, remodel and accessorize a home to suit one's taste and lifestyle. The benefits of homeownership are not only that you have the right to make improvements but that the value of those improvements becomes yours as well.

Family Stability. Almost half (45%) of all homeowners stay put for eight or more years (according to the 2000 National Association of REALTORS ® Profile of Home Buyers and Sellers). By living in one place for an extended period of time, children are more likely to be raised in a stable environment. Advantages of this include a consistent educational experience, ability to form long-term relationships, and the child's overall emotional security.

Privacy. While there are usually some limits on the access that landlords have to property, almost all landlords can access your property for necessary inspections and maintenance. Homeowners, on the other hand, generally have much stronger property rights and experience an increase in perceived and actual privacy.

So why sit up late at night and worry? As you can see, there are many good reasons to act on your desire for homeownership now.

"Real Service in Real Estate." For a personal consultation on buying or selling real estate, Janis Peterson, GRI, Realtor® can be reached at (610) 642-3744, e-mail: jp4re@pahomes.com. Prudential Fox & Roach Realtors® is an independently owned and operated member of The Prudential Real Estate Affiliates, Inc.

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