Five Financial Reasons To Buy A Houston House

As your Houston real estate team, we want to point out that there are so many incredible benefits of homeownership, both financially and personally. If you are considering buying a Houston home, but aren’t sure if homeownership is for you, let us fill you in on all the financial perks to owning!

According to a recent study from the Joint Center of Housing Studies at Harvard University, these are the five top financial benefits to owning a home:

1. Housing is typically the one leveraged investment available. As the study points out, few lenders are willing to lend money to households for the purchase of stocks and bonds, but the majority of households can qualify for a mortgage loan. Homeownership is the best investment, according to numerous billionaires, because it allows households to amplify any appreciation on the value of their home by a leverage factor.

2. You’re paying for a mortgage whether you rent or own. You’re either paying for your own home, or you’re paying for your landlord’s home. When you own, and you pay your mortgage each month, you know you’ll see a return on investment when you sell that home, and you might get back more than what you paid!

3. Owning is a form of forced savings. Not everyone is great at putting aside money each month as a savings account, but when you own a home, it’s like you’re being forced to save. You’re paying money out each month in the form of a mortgage, but then you get it back when you sell. It’s a great retirement savings if you downsize someday in the future!

4. There are substantial tax benefits. When filing your taxes each year, you can deduct your mortgage interest and your property taxes. If you sell your home for a gain, you don’t have to claim up to $250,000 for single filers and $500,000 for married couples.

5. Owning is a hedge against inflation. Rents have been rising faster than home prices, so as long as you stay put in your house for awhile, homeownership is still cheaper than renting. Rents will keep rising, but a fixed mortgage rate will not. Plus, you see the money again that you put into a house!

As you can see, homeownership in Houston is a really smart financial decision, and a terrific investment into your future. Now is the time to buy, while mortgage rates are still low. They are beginning to rise, so you shouldn’t wait. When you’re ready to buy a Houston home, contact us, your team of Houston real estate professionals! We are here and ready to help you in every way that you need us.