real estate professional palm springs palm desert, rancho mirage, cathedral city, stuart schofield

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Are you ready to buy a home?.
What are the Benefits of Homeownership?

Are you ready to buy a home?
Consider the advantages of owning a home. First, look at your financial situation. If you've got a steady job and a decent credit history, you're a prime candidate. To figure out what you can afford, use what lenders call the 28/36 guideline. Generally speaking, a lender will recommend keeping your monthly mortgage payment to less than 28% of your monthly income before taxes, and keeping your total monthly debt (including house payments, car loan, etc.) under 36% of your total income.

if you don't own a home, you're missing out on a good investment that approximately 65 percent of Americans have taken advantage of. And you're probably throwing away too much money on rent and taxes. 36 percent of those aged 25 to 29 already own a home.
What are the Benefits of Homeownership?

Owning a home has many advantages. But buying a home is an important decision. Look at the benefits to better understand if owning a home is right for you.

  • Tax advantages - Itemizing annual mortgage interest and property taxes on both your Federal and New York State income tax returns may result in tax savings to you.
  • More stable monthly housing payment - Your SONYMA monthly mortgage payment will remain the same for the life of your mortgage.
  • Build equity in your home - Building equity in your home over the life of your loan could help you achieve future goals like improving your home, paying for your child's education, or saving for retirement.
  • Property value appreciation - In many areas, property values have risen. There is no guarantee that the value of your home will increase or even maintain its value. However, under the right conditions, many home owners have seen their property values increase over time. 
  • Pride of ownership - Owning a home is a primary goal for most Americans. Achieving the American dream of homeownership gives you a sense of pride and security.

Email Stuart now or call 760-409-2246.

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