Everyone has personal aspirations of owning a house and subsequently a home. Of late you may have noticed the sudden rush in securing mortgages, no one wants to rent an apartment anymore. If you are aspiring to buying a home in Houston, it can be your best bet to owning your dream home. Below are the top 5 reasons why we buy houses with a special reference to Houston houses.
1) Buying a house saves money; more often than not most people use mortgages to pay for a house. Only a small percentage can pay for the house in full. One might wonder how paying for a mortgage saves money but let’s break it down. If you paying $1500 rent for an apartment monthly you are investing that money to your landlords account in real sense this is a recurrent expenditure that will haunt you over and over. However if you choose to get a house through mortgage and pay $2500 monthly you are investing in your future.
2) Self-actualization and contentment; if you buy a house you own it. It comes with peace of mind and it can be the foundation to realize bigger dreams in life. Then comes the freedom, you are not restricted to doing anything in your house. If this is your dream, recently Forbes magazine listed Houston as one of the best cities to live in America, Houston has the top job creation rate in the country making it an ideal neighborhood to get a house.
3) Save on taxes; in Houston if you own a house for more than a year you qualify for preferential tax treatment. The reason behind this is that your house becomes a capital asset, and capital assets receive preferential tax treatment. Another way to look at this is that, for the purposes of income tax calculation property taxes in the first year of ownership are fully deductible.
4) You get a better home; you might always hate your small rented apartment when you visit friends who own houses. They get to paint it the way they want and play loud music name it. Frankly speaking if you want a better home you are better off buying one and make a cash offer on house is the best method for making a great deal.
5) Buying a house builds equity; you got to do your math here. If you take the amount you owe on your house mortgage and subtract it from the total value of your house, the difference is your equity. You build more equity as your house appreciates in market value. But if you ever get in a pinch and need to stop foreclosure Houston for any reason, job change, relocation or whatever… we’re here to help you.