Your Lake of the Ozarks Mortgage Lender: 5 Reasons to Consider Buying a Home Today

Friday, January 26, 2018

5 Reasons to Consider Buying a Home Today

The decision to purchase a home is one of the biggest decisions you'll ever make in your lifetime. As a mortgage professional at the Lake of the Ozarks, I'm here to help prospective homeowners by answering all of their questions. In today's blog, we discuss some of the reasons why you should consider buying a home. Do any of these benefits sound appealing to you?

1. To Avoid Rising Rent Prices.

Areas across the country have seen a gradual increase in rent prices. In many cases, a mortgage payment would be less than your monthly rent payment. While there are other expenses to consider, like homeowners insurance, real estate taxes and maintenance costs, it might be time to consider purchasing a home instead of continuing to rent. If you are financially and emotionally ready, owning your own home offers a lot of great benefits.

2. To Build Equity.

When you're renting your home, you're helping someone else build equity, but when you own your home, you're building equity for yourself. Purchasing a home at the Lake of the Ozarks is an investment. The great thing about investing in real estate is that homes tend to increase in value over time. In addition, you can use that equity to your advantage in the future; for example, to upgrade your home, use for educational or medical expenses or put towards retirement if/when you downsize.

3. To Get a Tax Break.

While the new tax code is changing a few things, there are still great tax benefits available for homeowners. During the first few years, your Lake of the Ozarks mortgage payment will mostly apply to interest on the loan. You can deduct a percentage of that mortgage interest from your taxes, reducing the overall tax liability you have to pay each year. Who doesn't love the thought of paying less taxes?

4. To Gain Stability.

At a certain point in life, people start seeking stability. Newlyweds or those couples looking to start a family are good examples of people seeking more stability in their lives. Owning your own home gives you a sense of stability that you may be missing. You can select the neighborhood to raise your children in, schools they will attend and you can start getting a sense of community. Therefore, it's important to think about those aspects when purchasing a home.

5. To Take Advantage of Low Interest Rates.

While we're likely to see some big changes in the economy in the coming year, mortgage rates currently remain quite low. If you've been considering buying a home at the Lake of the Ozarks, now's the time to do so, before we start to see those rates rise again.

If you're ready to take the next step toward homeownership, give me a call at 573-746-7211! As your Lake of the Ozarks mortgage lender, I'm here to help you every step of the way. I'll discuss your options, offer competitive interest rates and back it up with the first-class service you deserve!

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