Why You Should Buy a Home
Have you considered buying a home in Florida? From being a prime location to live to increasing your net worth, there are many advantages to owning a home in Central Florida. As June is National Homeownership Month, we weigh in four benefits of purchasing a home.
Consistent monthly housing payments
No longer will you have to deal with the unpredictability that comes from renting such as lease termination, change in landlord or rent spikes. As a matter of fact, buying a house rather than renting is often a more affordable option. While home insurance rates and property taxes may not always be steady, you are able to pay the same amount of fixed rate throughout the entire time of your home loan through a fixed-rate mortgage.
Beginning your retirement mortgage-free
There’s no feeling like getting to live in a house you can fully call your own. Once you pay off your mortgage, you’ll be able to allocate money you’d be spending on housing to other things you’ve been wanting to splurge on. Now that’s an attainable Florida retirement dream!
If the house you’re purchasing isn’t the one you want to officially settle in forever, you can always sell it and use the money to fund your retirement. After all, the average American has about double in home equity as they do in their retirement savings.
Receiving Florida tax benefits
Owning a home in Central Florida gives you the advantage of getting to claim some extra tax deductions such as:
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Mortgage interest
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Mortgage points and insurance
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Property taxes
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Medical home improvements
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Energy efficient upgrades
Earn extra income
Whether you choose to hire a property manager to lease your property to a tenant, host with Airbnb (the average host earns about $924 a month!) or rent out a spare room, by owning property you have the opportunity to earn passive income.
Owning property in Florida is something to take pride in. It’s a milestone to celebrate! While it is a significant commitment, the financial and lifestyle benefits make it a worthwhile investment. Don’t know where to start? Contact us to speak with a Bardell Real Estate agent and learn more about how you can buy a Central Florida home.
Ready to make a Move?
Bardell Real Estate are the experts in helping you with your selling, buying or renting needs near Orlando, Florida. Make your Disney area experience a forever memorable one. Call us now to speak to a real estate agent.
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