Buying a house is a dream for many people, but it’s also a significant undertaking. You’ll need to find one you like, apply for a home loan, negotiate, and cover the down-payment. So why do so many people go through the trouble? Because the advantages far outweigh any downsides. Here are a few to consider. 

Why Buy a House? 

1. Freedom to Renovate

When you rent an apartment or house, you’ll need to ask the landlord for permission to make any changes. In addition to having to get their blessing, you won’t benefit monetarily from the renovations. The property value will go up, but only the landlord will make the profit. 

When you own a house, on the other hand, you can make any changes you want while benefiting from the increased value. From replacing the cabinets and re-doing the deck to adding a sunroom or swimming pool, you’ll have complete freedom to create the home you want.

2. Nest Egg for Retirement

Buying a home is one of the best investments you can make. Over time, the value will appreciate, and your mortgage will essentially serve as an automatic savings plan.

Once you reach retirement age, you can sell the house and use the proceeds to travel and rent or buy a smaller place. You could also turn the home into a rental to help fund your retirement. A homebuyer who chooses a location wisely could see the property value double or triple over the decades, allowing them to enjoy a lavish retirement lifestyle.

3. Tax Benefits

Becoming a homeowner will allow you to save on taxes. There are a number of expenses an accountant can help you deduct, including mortgage interest, property taxes, mortgage insurance, and certain closing costs. These deductions apply to your federal and state taxes in many cases. Plus, when you choose to sell, you can take up to a certain percentage of the profits tax-free. 

When you’re ready to buy a house, contact IP Advisors. Serving Maricopa County, AZ, their home loan experts will help you find and secure a mortgage, walking you through each step of the process. They’re a full-service brokerage firm and offer everything from low-interest VA loans to conventional home loans and mortgages. Call (480) 900-4525 to schedule an appointment with a member of their team.