This week’s tip of the week goes out to the renters.
Did you know that by owning a house you get to write off your interests? This means your whole payment is spread out over the course of 30 years. While the first seven years are pretty much all interests, this can be written off as a tax deduction from your income. Therefore, when you file your taxes, you’re getting a bigger tax refund at the end of the year. But that’s only one of the many benefits you can get from owning a house. The following are a few more advantages you can reap.
Increase in Value. Homes will typically increase in value making you build equity and provide a nest for the future. Don’t waste your money on rent where your landlord benefits. Instead, purchase a property as a way to invest.
You’ll have more privacy. Renting an apartment means you’re only a wall away from your neighbors. And if you’ve experienced living downstairs, you know how loud a single stride from the livingroom to the kitchen can be. Ditch that all together and buy a home that will provide you privacy and more.
You’ll have the pride of homeownership. There’s nothing better than to know your own a home. It represents hard work, family, and togetherness.
It’s predictable.The cost of your home is ideally predictable unlike renting where the landlord can increase your monthly payments after the lease.
Who knew you owning a home can be so sweet, right? If you want more information about real estate, follow us on our blog today. We post every week about renting, buying a house, selling a house, and an overall look of Las Vegas’ real estate market. You want to miss this one.
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