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Buying and owning your home can make a big difference in your life by bringing you joy and a sense of belonging. Of course, there are financial reasons to buy a house, but it's important to consider the non-financial benefits that make a home more than just where you live. Here are three ways owning your home can give you a sense of accomplishment, happiness, and pride.
Owning a home is associated with better mental health and well-being. Gary Acosta, CEO and Co-Founder at the National Association of Hispanic Real Estate Professionals (NAHREP), explains: "Studies have shown the emotional and psychological benefits that homeownership has on a per...
Realtor.com recently shared '5 Habits to Start Now if you Hope to Buy a Home in 2017.' Below are the top three from their list with a brief description.
#1 - Automate Your Down Payment Savings
One way to jump start your down payment savings is to automate your checking account to automatically save a small amount of your paycheck into a separate savings account or 'house fund'. "Amassing enough for a down payment takes discipline & perseverance, but setting up automatic savings can make it easier. If you never see the cash, you won't spend it."
According to a report by Trulia, "buying is cheaper than renting in 100 of the largest metro areas by an average of 33.1%." That may have some thinking about buying a home instead of signing another lease extension, but does that make sense from a financial perspective?
In the report, Ralph McLaughlin, Trulia's Chief Economist explains:
"Owning a home is one of the most common ways households build long-term wealth, as it acts like a forced savings account. Instead of paying your landlord, you can pay yourself in the long run through paying down a mortgage on a house."
The report listed 5 reasons why owning a home makes financial sense:
1. Mortgage payments can be fixed while rents go up.
2. Equity in your home can be a financial resour...
If you have a house that is going to be vacant this winter it is important to winterize the property. Failure to do so can cause dramatic and costly damage. Don't get caught by surprise; here is a checklist of what needs to be done to protect your vacant home.
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