Author Box
Articles Categories
All Categories
Articles Resources

Real Property Investment: The Need to Buy Your Own Home

February 23, 2012 | Comments: 0 | Views: 121

I know of some people who have spent so many years moving from one abode to another. They continue to move house looking for a home with a lower rent. If you ask these people why they continue to rent a house, they will tell you that they wanted to own one but are afraid to do so. Most of them will tell you that they are afraid of not being able to meet the requirements. This is a pity because if you sum up the rent from their previous abodes, they would already have acquired a house. There are also a few who are contented to renting a home. These people have always been prodded by their friends and relatives to buy their own house. They may realize the good thing about it but are a little bit reluctant because they have not yet realize the significance of owning a property that they can call their own.

The following rationales may open your mind to the importance of owning a home.

The primary rationale why people buy their own house is the satisfaction of possession. You can do anything like applying your creativity on decorating it from the painting to the fixtures and wall decorations. Owning a home gives you and your family a sense of safety and permanence.

It is a priceless investment because the cost of real estate varies depending on the economic status of a certain area. Owning a home is a helpful investment as it can guard you against inflation.

A small mortgage balance entitles you to have higher tax rebates because interest on mortgage is subtracted from your tax return.

Real property taxes on first owned houses and vacation houses are subtracted for income tax reasons as contained in the first-time home buyers' tax information of IRS Publication 530.

A capital gain exclusion amounting to $250,000 for a single person and $500,000 for married couples is granted if they have resided in the house for more than two years. Anybody can take advantage of this capital gain exclusion regardless of their age. It can be eliminated from the taxes every two years. Hence, you can sell your home in 24 months without having to pay any taxes.

A portion of your monthly amortization is reflected to the principal balance of your loan each month, thereby decreasing your debt.

The above are just a few rationales or reasons why you need to invest on buying your own home.

Check out Long Beach Homes for Sale at

Source: EzineArticles
Was this Helpful ?

Rate this Article

Article Tags:

Home Buyers


First Time Home


First Time Home Buyers


Real Estate


Homes For Sale


Home Buying



The documents are inevitable to assess your age, income, employment and residence. For the loan to be petitioned from the bank, you need the right procedure of application.The documents are

By: Simon Liva l Real Estate > Buying l November 20, 2012 lViews: 258

The main reason why people tend to be apprehensive about moving homes is that it entails packing everything in the home, transporting it and then unpacking it in the new home. The entire process of

By: Ringo Star l Real Estate > Moving Relocating l October 27, 2012 lViews: 211

There are a number of benefits to owning a second home. Buying to let is a long term investment. The property will usually accumulate value over time and also can generate rent on a shorter term

By: Alan Trotter l Real Estate > Investing in Real Estate l October 19, 2012 lViews: 241

Building a home, especially your first one, can be an incredibly daunting task - there are a number of factors, including budget and planning, that must be taken into account before any sort of

By: John K. Taylor l Real Estate > Building a Home l July 10, 2012 lViews: 333

When you're ready to sell your house, the first thing you'll probably do is find a real estate agent to help you through the process. It can be so inviting to seek out the discount Realtors who offer

By: W Josh Anderson l Real Estate > Selling l July 10, 2012 lViews: 263

You see the signs everywhere, especially in a strong economy: For Sale By Owner. For some reason, many people believe they'll do a better job of selling their homes without the assistance of a real

By: W Josh Anderson l Real Estate > Selling l July 10, 2012 lViews: 241

The documents are inevitable to assess your age, income, employment and residence. For the loan to be petitioned from the bank, you need the right procedure of application.The documents are

By: Simon Lival Real Estate > Buyingl November 20, 2012 lViews: 258

There are many reasons to buy real estate. Consider all of the options and benefits it could provide.

By: Alfred Ardisl Real Estate > Buyingl April 27, 2012 lViews: 202

Buying Flippers...what to look for. Are flippers that good of a deal?

By: Terry Osburnl Real Estate > Buyingl April 26, 2012 lViews: 207

Purchasing a home mortgage loan can be a confusing and stressful process. When contemplating how much money to put down on your home loan, consider these benefits of making a larger down payment.

By: Alex Gomoryl Real Estate > Buyingl April 25, 2012 lViews: 265

Is it smarter to rent or buy a house in this market? The answer may surprise you.

By: Rich Hilliardl Real Estate > Buyingl April 24, 2012 lViews: 176

"When is the best time to buy a house?" This is a common question that we often hear from first-time home buyers. Many analysts would tell you that buying in a cold real estate market is a time to

By: Jason Miskowicl Real Estate > Buyingl April 24, 2012 lViews: 202