I know of some people who have spent so many years moving from one abode to another. They continue to move house looking for a home with a lower rent. If you ask these people why they continue to rent a house, they will tell you that they wanted to own one but are afraid to do so. Most of ทาวน์เฮ้าส์มือสอง กรุงเทพ them will tell you that they are afraid of not being able to meet the requirements. This is a pity because if you sum up the rent from their previous abodes, they would already have acquired a house. There are also a few who are contented to renting a home. These people have always been prodded by their friends and relatives to buy their own house. They may realize the good thing about it but are a little bit reluctant because they have not yet realize the significance of owning a property that they can call their own.
The following rationales may open your mind to the importance of owning a home.
The primary rationale why people buy their own house is the satisfaction of possession. You can do anything like applying your creativity on decorating it from the painting to the fixtures and wall decorations. Owning a home gives you and your family a sense of safety and permanence.
It is a priceless investment because the cost of real estate varies depending on the economic status of a certain area. Owning a home is a helpful investment as it can guard you against inflation.
A small mortgage balance entitles you to have higher tax rebates because interest on mortgage is subtracted from your tax return.
Real property taxes on first owned houses and vacation houses are subtracted for income tax reasons as contained in the first-time home buyers' tax information of IRS Publication 530.
A capital gain exclusion amounting to $250,000 for a single person and $500,000 for married couples is granted if they have resided in the house for more than two years. Anybody can take advantage of this capital gain exclusion regardless of their age. It can be eliminated from the taxes every two years. Hence, you can sell your home in 24 months without having to pay any taxes.
A portion of your monthly amortization is reflected to the principal balance of your loan each month, thereby decreasing your debt.
The above are just a few rationales or reasons why you need to invest on buying your own home.
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