Arn Cenedella

Homeownership is so much more than a financial investment

Real estate is a tangible asset - home ownership provides a place to live – a place to put down roots. It allows you to create a living environment you find most desirable – you can maintain and/or modify the interior and the exterior of your property in a way that brings you the greatest satisfaction. ”Pride of ownership” is more than a slogan. The emotional benefits of having a place to call your own are significant.

Recognition of these emotional benefits is the primary driver behind most decisions to purchase a home. In my experience, buyers purchase on emotion and then justify rationally.

Certainly, home ownership is a smart financial decision also.

Tax savings due to the ability to deduct the cost of interest and property tax paymentsoften can bring the cost of ownership down to levels similar to what it would cost to rent a similar house in the same neighborhood.

In addition, the ability to leverage one’s investment is a key to building financial wealth. If you purchase home with 10% down and the property appreciates 10%, you have actually made an 100% return on your initial down payment investment.

I have owned my home for over 21 years and through the many personal changes and challenges life often brings, my home has been my “safe haven” – my “Rock of Gibraltar” and an the best financial decision I have ever made.

I would suggest when it comes to buying a home : Try it, you will like it !

This entry was posted on Saturday, September 1st, 2007 at 4:17 am and is filed under Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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