When you buy a house, it is likely the most substantial investment you will make, which can be overwhelming for long-time renters. While the process of purchasing a home can be frustrating, the benefits are usually worth the risk, especially if you plan on staying in one place for an extended period. Below are a few of the most attractive benefits of buying your own home.

Why You Should Buy a House

1. Sense of Ownership

While the feeling of ownership may not translate directly into monetary value, it’s a significant advantage of buying your own home. When a house is yours, you can paint the walls any color you like and customize any aspect of the property without worrying about the terms of a lease agreement.

2. Financial Investment

While the real estate market fluctuates, buying a house is generally a sound investment. In most areas, the property will gain value over time and may form the foundation of your future wealth. Additionally, you can access the equity in your home to pay for situations that arise, such as college or a new car.

3. Tax Benefits

Homeowners have more expenses than renters, but you can offset those with generous tax deductions that are only available to homeowners. In addition to your mortgage interest, you can usually write off your insurance and property taxes, potentially reducing your tax bill by hundreds or thousands of dollars.

4. Building Equity

One obvious benefit of buying a home is building equity with monthly payments. No matter how long you rent a property, your rent goes to the landlord without giving you a stake in the property. When you buy a house, every payment goes toward your equity, building value, and giving you ownership of a valuable asset.

5. Quite Often-Monthly House Payment is less than aRent Payment

 Interest Rates are PHENOMENAL, it only takes a few minutes to see if you qualify for that house you’ve had your eye on. With so MANY loan programs available to purchasers, there is one that would be perfect for you!  

If you want to buy a house in the O’Fallon, MO, area, let Christine Williams Realtor-Coldwell Banker Gundaker help find a property you’ll love. She has over 20 years’ experience guiding people through the complex process, turning house hunters into homeowners. Visit her website to start looking for your next home today, get more real estate tips on Twitter, or call (314) 882-7050 to speak with one of the area’s most trusted real estate agents today.