What does the American Dream mean to you? For many people it means owning their own home. June is National Homeownership Month, a time for us to reflect on the joys and challenges of home ownership, and how it enhances our lives and communities.
6 benefits of homeownership
At its simplest, a home is a place to hang your hat and stow your stuff. However, it’s also an investment in your family and future, providing a secure, safe place that provides many benefits.
- Mortgage tax and property tax are usually fully deductible.
- Many closing costs (for home purchases) are deductible as well.
- A home is a safe, steady investment — if you take good care of it, its value increases while your debt decreases.
- National median home price has risen every year since 1968, even in our current recession.
- The portion of your home and property you actually own rises with every house payment.
- You can’t build equity renting.
- Getting your equity and appreciation up high enough can allow you to purchase a bigger and better home for your needs.
- Use the equity in your home to get a loan or line of credit, which can help you make home improvements, pay for college, and many other things.
- Having a fixed-rate mortgage is easier than paying constantly-rising rent rates.
- Owning your own home gives you a vested interest in preserving and growing your community.
- Party all night in your backyard or play Rachmaninoff as loud as you want.
- Paint the walls aquamarine, hang pictures, and otherwise make your home yours. Plus there’s no landlord to fine you for scratched baseboards.
3 benefits of building a custom home
Designing and building a custom home gives you all these benefits plus three more:
- “Custom” is the name of the game — pick every material and fixture, from floor to ceiling. Showcases your personality and give every detail a personal touch.
- Working with a reliable home designer/builder means you know your home is designed and constructed well and of high-quality materials.
- New homes are often built in new developments or master-planned communities, which offer amenities like great locations, recreational facilities, walking trails, and more.
Make this the year you become a homeowner
Whether you build or buy, owning a home is an incredible source of pride and contentment. Isn’t it time you had some of the American Dream?
If you’d like to build a custom home, I hope you’ll consider us. We’ve been building homes in the Texas Hill Country for almost three decades, and would love to help make your vision a reality. Visit our portfolio or contact us today to talk about your needs.