Closing on a property for the first time is a tremendous accomplishment. It represents the hard work and responsible choices of the new owner. When you invest in your future through homeownership the possibilities are endless. HouseLogic.com can help both new and seasoned homeowners take full advantage of the opportunities that owning a home offers to people.
On the financial end, by making one extra payment on your mortgage per year you can not only shorten the life of your loan, but your save yourself money you would pay on interest. If your situation allows, getting a 15-year mortgage can be even more worthwhile, saving you thousands of dollars over the life of the mortgage. Talk with your Realtor about your options or view an amortization schedule (easily found online). It’s a rewarding experience through which families build lives and memories, as well as their financial futures.
Over the long-term, owning a home helps people dramatically increase their net worth. The most recent data from the Federal Reserve Board shows a homeowner’s net worth is 46 times that of a renter’s. In short, homeownership is how many American families begin to accumulate wealth.
People who bought within their means with the intent to stay in their homes for more than a few years have the opportunity to build financial stability into the future. A fixed-rate mortgage might last 15 to 30 years, but renting goes on forever.
Home is a place of comfort and security. Homeowners do not move as frequently as renters, so it encourages stability. Most people do not want to uproot their families and disrupt established friendships by leaving the community they’ve invested so much both emotionally and financially. Homeownership isn’t for everyone, but for over 200 years millions of Americans have owned homes and have enjoyed the benefits. This has not only strengthened families, but also has bestowed immeasurable benefits for individuals and the country as a whole.
So if you are ready to invest in your future, the community and security that homeownership can afford, contact a Realtor with Dayton Realtors today. We will help you on the path to realize the American Dream.
Sharon Geier is the Dayton Realtors President