The advantages of homeownership

The decision to purchase a new home brings a sense of financial integrity and stability. Whether it’s a place to make your own, more space for a growing family or an investment opportunity, the home-buying process is an exciting time. One of the biggest motivations for buying your home is financial security. Buying a home is a sound financial decision for a number of reasons.

Accumulation of Equity

When you buy your house and pay your monthly mortgage, you can gradually accumulate what lenders call equity. Equity is an ownership interest in the property that you can convert into cash by borrowing against it or by selling your house. As a renter, you lose the opportunity to build equity. As a homeowner, paying your mortgage can help you attain financial freedom.

Stable Housing Costs

Another advantage to homeownership is that mortgage payments can remain unchanged throughout the life of your mortgage. Renters may face an increase in rent payments year after year. With a fixed rate mortgage, over time your monthly payments remain the same as other costs of living can increase due to inflation. As a homeowner, you have the advantage of knowing what your housing costs will be far into the future.

Increased Value

Houses typically increase in value, or appreciate, over time. It’s not unusual to find a house that sold for $150,000 fifteen years ago to be valued as much more today. Appreciation is like money in the bank to you as the homeowner.

Tax Benefits

As a homeowner, you will enjoy significant tax breaks that are not available to renters. The most important tax benefit of homeownership is that interest paid on your home mortgage is usually deductible. This fact alone can save you a substantial amount each year in federal income taxes.

Contact us for more information on the home-buying process and why we’re the right company for you.

 

All fees and processes are subject to local real estate practices. For specific information about your transaction, please consult your real estate professional, loan officer or escrow officer.


Get Title Quote Here

Contact Us

First Name:*

Last Name:*

Phone:*

Email:*

Tell us more:


 

Mega Title, LLC

721 Route 34, Suite 3
Matawan, NJ 07747
Phone: 732-242-9835
Toll Free: 877-550-MEGA
Get Directions | See Detail

Connect with Us:

Testimonials

  • Samah and her team at Mega Title were efficient and professional in
    handling our refinance closing. I had used them in a prior refinance
    and was so impressed with the attention to detail that I came back
    this time again. They are accomodating to your schedule, meet the
    deadlines so they don't waste your time and most of all treat you as
    if you are their most important customer at all times. I couldn't ask
    for better service - they took care of everything. Just had to show
    up and sign.
  • As a real estate attorney, I have dealt with numerous title companies.
  • I recently refinanced my home. Mega Title really made my life much easier.
  • I really appreciated the excellent service and caring attitude during my refinance.
  • I can't express how impressed I am with your customer service!

View All