• Greater Binghamton Office
    (607) 757 2100
  • Penn Yan Office
    (315) 536 7456

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7 Reasons to Own a Home

Tax benefits.The U.S. Tax Code lets you deduct the interest you pay on your mortgage, your property taxes, and some of the costs involved in buying a home.

Appreciation.Historically, real estate has had a long-term, stable growth in value. In fact, median single-family existing-home sale prices have increased on average 5.2 percent each year from 1972 through 2014, according to the National Association of REALTORS®. The recent housing crisis has caused some to question the long-term value of real estate, but even in the most recent 10 years, which included quite a few very bad years for housing, values are still up 7.0 percent on a cumulative basis. In addition, the number of U.S. households is expected to rise 10 to15 percent over the next decade, creating continued high demand for housing.

Equity.Money paid for rent is money that you’ll never see again, but mortgage payments let you build equity ownership interest in your home.

Common First-Time Home Buyer Mistakes

1. They don’t ask enough questions of their lender and end up missing out on the best deal.

2. They don’t act quickly enough to make a decision and someone else buys the house.

3. They don’t find the right agent who’s willing to help them through the homebuying process.

4. They don’t do enough to make their offer look appealing to a seller.

5. They don’t think about resale before they buy. The average first-time buyer only stays in a home for four years.

Don't let these common mistakes hurt your chances of getting the house you want! Contact us today to set up a meeting with one of our highly qualified agents who can guide you through the homebuying experience, step by step!