So What’s So Great About Home Ownership

With the market in the state of uncertainty for some many years, it seems that home ownership doesn’t seem so wonderful.  With fears of low resale values and difficult mortgage terms, home ownership hasn’t seem so great. But even with an uncertain market, owning a house is still a great investment.

Tax Savings – One of the first advantages to home ownership are the tax benefits. Owning a house gives you the advantage of writing off the interest on your mortgage or home equity line of credit, assuming you have a mortgage.  In addition, improvements and home businesses may give you additional tax benefits.

Equity- Building equity in your home is a great advantage. It gives you buying power later, a sense of accomplishment as you get closer to owning your home free and clear, and gives you access to funds should an emergency arise. Real estate is historically an investment and, therefore, building equity in your home is a contribution toward your investment.

CommunityBeing a part of a community can be a great advantage of home ownership. When you own your house, you invest in the house, the neighborhood, and the people around you. Having a sense of community can give you a sense of peace and relaxation when you know you are a part of a community.

It’s Yours – Having something you own is a great feeling. Unlike renting, if you own your home, it is yours. You can paint it as you wish, make improvements that you like, plant a tree, build a deck, or add a playhouse for the kids. And you can do all these things without asking the permission of your landlord. You are not accountable to anyone but yourself.  And if there is a problem, you can decide when and how to fix it without having to wait for your landlord to take care of the issue.

Home ownership is still a great investment and can provide the owner with many benefits over renting. If you are considering purchasing a home, you will want to factor in the hidden costs of renting and these benefits of home ownership.

Below are some active up to date listings furnished by IDX/IMLS for Ada and Canyon Counties that include cities such as Boise, Idaho and surrounding cities for the sales price range of $80,000 to $100,000