4 Unbeatable Advantages of Homeownership

Are you on the fence about whether to buy your first home at the Lake of the Ozarks or to keep renting? If you're stuck weighing your pros and cons, Arrowhead Title, Inc. is here to help you make the right decision! 

 If you can afford it and you plan to live in the same place for at least three years, buying you own home is almost always the smarter option. Owning your own home brings with it a unique sense of financial integrity and stability that does wonders for your personal and your financial lives. Here's a quick snapshot of the main advantages of owning your home.

1. Stable Housing Costs

While some mortgage loans offer adjustable rates, long-term home loans offer a major advantage for people planning to stay in the same place for many years: the payment amount will remain the same throughout the duration of the loan. Conversely, renters are subject to the whims of their landlords and may see increases in their rent payments year after year.

Not only do homeowners get to enjoy stable payments, they also get to enjoy one other significant advantage: there is an end in sight. At the end of their fifteen- or thirty-year loan, their housing payments will stop. Renters, on the other hand, will have to continue to write checks as long as they occupy that property.

2. Tax Benefits

Taxes are a necessary evil in the lives of most Americans. While they serve our country as a whole, they may seem a little less kind to individuals Americans. If you own your own home, however, you will be eligible for significant tax breaks that are not available to renters. Specifically, the interest you pay on your mortgage loan is tax deductible. While this may not sound like a lot at first, it can save you a substantial amount in federal taxes every year.

3. Accumulation Of Equity

When you pay your monthly mortgage payment, you're not just paying back your loan - you're also building what is known as equity. "Equity" refers to the amount of the home you actually own (that is, your total loan amount minus the value of your home).

Equity is a major asset that can be used any number of ways. You can convert that equity into cash by selling your house, for example, or by taking out a second mortgage against your home.

4. Increased Value

Thanks to inflation, houses almost always appreciate (increase in value) as time goes on. As your home appreciates, your home equity increases accordingly. When it comes time to sell your home, you will probably be able to do so for more than you originally paid for the house. When that happens, you will get to pocket that extra cash or apply it towards the purchase of your next home. Either way, it's a great advantage!

Convinced? Arrowhead Title Can Help You Close On Your Very Own Home!
With these (and many others) outstanding benefits ahead, why wait? There has never been a better time to take the plunge and buy a house at the Lake of the Ozarks. We would be thrilled to help you with the process! Come by and see us to find out why we are the best title insurance company at the Lake of the Ozarks.

 The Lake of the Ozarks' Most Trusted Title Company
Where Accuracy Matters!

+1 us on Google

750 Bagnell Dam Blvd Suite B
Lake Ozark, MO 65049
Location: Lake Ozark, MO 65049, USA

Comments

Post a Comment

Popular posts from this blog

Title Commitment vs Title Report

Image
Do you know the difference between a title commitment and a title report? While these documents may sound similar at first, they actually serve very different purposes and should not be confused. As your trusted title company at the Lake of the Ozarks , Arrowhead Title is here to help clear up any misunderstandings you may have about title commitments and title reports. Title Commitments Title commitments are issued when someone is in the process of buying a home or piece of property. After the title search has been conducted (that is, after your title company has thoroughly researched the public documents for any pertinent information regarding the property), the next step is to issue the title commitment.  The title commitment is exactly what it sounds like: a commitment  to provide title insurance to the lender and the buyer under the terms described. The title commitment outlines the conditions and exceptions that will impact the title insurance policy. Condi...
Read more

9 Fun Facts About Title Insurance

Image
Title insurance is a crucial part of buying real estate, whether a home, business, or commercial or residential plot of land. Without title insurance, your right to use and occupy your new property may be hindered by rights and claims asserted by others - potentially even years after the closing date. Despite its incredible importance, title insurance is largely misunderstood (if it's understood at all) in the general community. Arrowhead Title, Inc. is here to educate you on our unique industry by filling you in on these fun facts about title insurance. Fun Facts About Title Insurance 1.   Benjamin Franklin was the first person to come up with the concept of title insurance. 2.   Title insurance's primary focus is proactive, not reactive - it aims to prevent issues from ever arising in the first place. 3.   Title insurance is available in several other countries (not just the States). For example, it is used in Northern Ireland, Canada, Mexico, New Zealand, ...
Read more

9 Documents to Expect at Closing, Part 2

Image
Closing day is a date you've been looking forward to for a long time. All you have to do is get through a huge stack of legal documents without getting carpal tunnel! As the best title company at the Lake of the Ozarks , Arrowhead Title knows exactly what documents are coming your way. Last week we talked about four of the major documents you can expect on your closing date. Read on to learn about five more documents you will want to be ready to review and sign. Call Arrowhead Title for a team you can trust - we would love to help you prepare for and navigate the closing process! 5) Title Documents When you purchase your home, you are actually purchasing the right to the property. You won't technically own your home until it is paid off, but the title documents give you the legal right to the property. At this point in the closing process, the title has been thoroughly researched by the title company. During this search, any issues associated with the title should have...
Read more