Tax advantages

When buying a home, your mortgage interest would be tax deductible, which would be a huge advantage for saving money in the future.

An appreciating investment

Generally, home prices increase over time. According to a report by mortgage data firm Black Knight, the 25-year average appreciation rate of homes in the U.S. is 3.9% per year. Although the market does fluctuate, home value increases as time goes on, making buying a home an appreciating investment. 

Opportunity to build equity

When you rent, the rent you pay could instead be used to build equity in your own real estate. In simple terms, home equity is the portion of your home that belongs to you. To build equity, you can track your home’s value over time and make monthly mortgage payments. When you sell your home, you receive home equity cash. However, when renters want to move out, they won’t reap any of the benefits from what they spent when living in their home. 

Helps build credit 

Taking out a mortgage can positively impact your credit, which is crucial for your financial stability in the long run. Making payments every month toward your mortgage could also help improve your credit score. 

“I tell so many people, especially, you know, at an early age, as soon as you can, however you can, purchase a home because it will become a financial vehicle that can take you through your life and help provide finances as the home grows in value,” Klimis said.

The emotional connection to a home

So, having never owned a home myself, I've still managed to uncover and understand these five key reasons why home ownership can be a game-changer. It's about personalizing your own space, appreciating the tax perks, viewing your home as an investment that typically grows in value over time, building your own equity instead of your landlord's, and enhancing your credit score. Even George Klimis, the co-owner of True Blue Title, highlighted the emotional connection we share with our homes and the financial stability it provides over the years. It seems owning a house isn't just about having a place to live, it's a financial vehicle that can support you throughout life.

Title insurance and expertise to help homebuyers

Feeling intrigued by the idea of owning a home now? That's where the brilliant team at True Blue Title comes in! We are eager to guide you through this exciting journey of homeownership and introduce you to our valued partners from real estate agents to mortgage brokers. Why wait to start building your financial future when you can take the first step today? 

Call True Blue Title at 727-371-9400 or visit our homebuyer / borrower resources page. A house isn't just bricks and mortar, but a financial vehicle designed to pave your way to a prosperous future. Let's make the most out of it with True Blue Title!