5 Reasons we regret buying our first house

We do NOT have any regrets, without our first home we wouldn’t be where we are today, in our 3rd home which has room for our growing family.

Here are 5 reasons why you should buy your first home:

• Equity: Money paid for rent is money that you’ll never see again, but mortgage payments let you build equity ownership interest in your home.

• Savings: Building equity in your home is a ready-made savings plan. And when you sell, you can generally take up to $250,000 ($500,000 for a married couple) as gain without owing any federal income tax.

• Tax benefits: The U.S. Tax Code lets you deduct the interest you pay on your mortgage, your property taxes, and some of the costs involved in buying a home.

• Predictability: Unlike rent, your fixed-rate mortgage payments don’t rise over the years so your housing costs may actually decline as you own the home longer. However, keep in mind that property taxes and insurance costs will likely increase.

• Freedom: The home is yours. You can decorate any way you want and choose the types of upgrades and new amenities that appeal to your lifestyle.

#firsttimehomebuyer #homesweethome #buyingahome #investing #azrealestate #azrealtor #azmom #coloradoliving #arizonaliving