July 4th, 2019 10:19 AM by Jackie A. Graves, President
Owning a home is considered the American Dream by many. In
addition to the feelings of pride and accomplishment, becoming a homeowner has
Fourth of July, we're celebrating the liberties of homeownership.
awards you new freedoms. Whether it's the ability to adopt a pet or renovate your
kitchen, you have much more freedom as a homeowner. You can customize your own
space without approval from landlords.
can build equity over time. As you pay down your mortgage and through potential appreciation
in your home's value, your home equity will increase. This is a great
thing! Building equity helps you become more financially stable over time.
monthly payments can be stable. Monthly rent payments may increase over
time, but a fixed-rate mortgage will ensure that
you're paying the same amount each month. Steady payments allow you to budget
wisely and makes plans for the future.
a home may offer tax benefits. Homeowners may be able to take tax
deductions on their mortgage interest and property taxes, as well as take
advantage of tax credits for things like energy efficient improvements.
Owning a home
can provide you with the independence you've always wanted, but it's important
to remember that homeownership comes with new responsibilities. As a homeowner,
you're responsible for making your monthly mortgage payments on time and
maintaining your home.
information on buying and owning, visit MyHome by
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