Why buy a home?

Pennsylvania real estate tips
Teri Freed has become one of the top ERA Excellence realtors in Chester County and the surrounding areas, because she takes the time to educate her clients. If you are still paying rent, there are many factors which you must weigh before buying a home. A long-time buyer of real estate and homes for sale in Chester County, Teri has helped many clients weigh the disadvantages and advantages of buying a home.

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Teri is happy to provide her list of home ownership disadvantages and advantages:

Home ownership disadvantages

• With the added maintenance and mortgage costs, home ownership usually costs more.
• Buying a home ties up cash.
• If you run into a financial problem, selling your home may not be a solution. During the first few years of ownership, you are more likely to lose more money than you gain.
• Owning a home usually makes moving more difficult and complicated.
• There is no guarantee that your home will increase in value.

Home ownership advantages

• A home is generally a sound investment. With each mortgage payment, you're building equity, the portion of the property you actually own. Not only do you own this, but your home may also go up in value over time, creating more equity for you.
• Home ownership offers great tax advantages. The mortgage interest and real estate taxes are deductible.
• A first home usually leads to a better second home. The equity you build up goes a long way in purchasing a second home.
• You are better able to plan your housing costs. Home rent increases are unpredictable and beyond your control.
• You gain the satisfaction and security of ownership. Owning a home may give you a new sense of pride in your surroundings and encourage you and your family to plant deeper roots in your community.

Chester County real estate
If you still have more questions about home ownership, contact Teri today. From Downingtown to Exton to West Chester, PA, Teri has helped many Chester County residents make decisions about purchasing real estate and homes for sale.