San Diego Home Buying Information

San Diego Home Real Estate

With housing prices at a record low, owning a home has become more of a reality than not for a lot of people.  When there are so many great benefits of buying a home renting should not be your default option.

Advantage #1 – The amount of money you will save on taxes is one of the greatest benefits of owning a home in America. Along with mortgage interest rate tax deduction, there are also hefty capital gains exclusions when you own a home.

Advantage #2 – Buying a house forces you into a set savings plan.  With every payment you make towards your mortgage it builds equity in your home.  Most Americans do not save enough money for their retirement or for any type of emergency fund however paying your mortgage over its thirty year mortgage time span will force you to save the value of your home.

Advantage #3 – Developing wealth through real estate is one of the best benefits of buying a house.  Despite the recent housing crisis, home prices have historically risen 4% annually since 1960.  Having equity like this gives you a lot of flexibility, allowing people to take the equity in their home and invest it into more real estate thus continuing your development of wealth.

Advantage #4 – You will receive gratification and a sense of community when you own a home.  Apart from renters, homeowners tend to be more involved with their neighborhoods, serve on boards or committees and make efforts to provide a safe and welcoming community.  There is definitely something special about homeownership.  With such a large investment as a home, you want to make every effort possible to make your house and the area around it, the best it can be.