Benefits to Owning a Home

Know Atlanta, a guide for people relocating to Atlanta, recently published seven benefits of owning your own home. The article really gives some good facts and solid numbers that can help individuals decide whether to rent or buy. The article first talks about the benefits of tax breaks on your mortgage, property taxes and other costs involved in buying a home. Also, on average, homes have appreciated about 6.5% each year since 1972 and have appreciated 88.5% on average in the last ten years making buying a home a great investment. The article also reminds homebuyers that their mortgage payments build equity, while renters lose their monthly payment. The fourth reason to buy a home, is that equity is an automatic savings plan and much of the gain is tax free. Owning your own home also provides predictability since a fixed mortgage payment does not rise. Freedom to decorate and add value as well as stability are also two added benefits of owning your own home. Although there are different pros and cons for each individual when deciding the time to break into home ownership, Know Atlanta brings up some great things to think about. And, with so many great new homes on the market now, it really does seem like a good time to buy!