Today I’ll be discussing some of the benefits that come from homeownership.
1. Tax benefits. There are several tax benefits associated with buying a home. Three main components of your home are tax deductible. For example, interest on your home mortgage, property taxes, and also points on your mortgage loan.
2. Appreciation of property. From 1988 to 2017, San Diego County has averaged an annual home price gain of 5.2%, according to CoreLogic.
3. Increased net worth. One of the greatest impacts on an individual’s net worth is owning a home. According to the Federal Reserve Board of Consumer Financing, the average net worth for a household earning $80,000 a year is $451,000 for a homeowner versus $87,000 for a renter.
If you know of anyone looking to buy or sell a home, please think of me. I’d be happy to help you with any of your real estate needs.