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The Benefits of Home Ownership
Tax savings, other financial benefits
and much, much more.
Most people considering a home purchase are familiar with the mortgage interest and property tax deductions that accompany home ownership. Keep in mind these deductions typically make up the majority of your payments for the first several years of your loan. (See chart) This tax savings allows you to either take home more of your paycheck or receive a tax refund at the end of the year.
What many people don't know is there are several other financial benefits beyond tax savings.
- Increased financial security as you build up the equity in your home - equity that is available through a home equity loan or line of credit
- Build positive credit faster lowering the costs for other types of financing such as car loans
- Better terms and lower rates on credit cards
- Discounts on insurance services particularly when your homeowners and auto policies are with the same insurance company
What's the value of truly having a place to call home? Owning a home is more than a financial decision. Your investment goes far beyond taxes and equity. Owning a home means investing in the community where you live, its parks and its schools.
It's an investment in your family by providing them with the stability and consistency that comes from having a place to call home. And its an investment in yourself as you learn what the pride of home ownership is really about.
A place to make your memories
This is where you'll share stories around the kitchen table and experience the full gamut of life's ups and downs. From you baby's first steps to her first kiss to her first dance at her wedding - it's all about having a place for your dreams.
A place to call your own.
You want to paint the walls, get a dog or cat? (or both?) Go for it! This is your home.
Before planning the construction of our Shea Homes® condos here in Arizona, our leadership team toured west coast condo communities and met with construction professionals to understand any challenges and how-to best approach building a condo community buyers will want to be a part of. One of the biggest challenges noted during these tours […]Oct 21 at 6:39 PM • Shea Blog
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