Buying A Home Is The American Dream

Owning a home is often called the American Dream.There are many benefits to owning a home such as :

1. You are not wasting your money throwing it way on rent 

A. By paying rent, you are paying off your landlords mortgage or making him rich , plus you can't write off rent payments.

B. You are at the mercy of the landlord if something breaks , you have to wait for them to come fix it ,plus they can raise the rent on you, which they usually do over time , or they can decide to sell at anytime, which happens a lot. 

C. By buying vs renting you typically have a fixed payment for 30 years which right now with low interest rates, could be cheaper than a rent payment, plus the interest and property taxes you pay are tax deductible .

D. You can make upgrades to your home without permission and customize the home the way you want to.

E. When you rent often times the landlord may want to do periodic inspections which can be an invasion of privacy. 

2. Homes historically go up in value. If you bought a home in 2000 in Las Vegas, you would still be up 31% even with the bubble and the real estate crash from 2002-2006, which was fueled by loose lending standards that have since been corrected and homes are up now up 15% the last year alone in Las Vegas . 

In addition to buying a home to live in you can also buy a rental property or investment property . Most lenders will lend you a loan on an investment property with a 20% down payment . There are a lot of homes you can buy with a 20% down payment you can rent out and cover your Mortgage payment , or you could find an investment property that will actually cash flow , which means your rental payment exceeds the rent you collect , leaving you a net profit every month.The nice thing is you can write off your expenses on a rental property such as mortgage interest , property taxes , HOA dues, and improvements or repairs . I don't know of any other investment that will allow you to write off your expenses . You can then pay off your 30 year mortgage or even a 15 year Mortgage with other peoples money ( the rent ) and have an instant retirement plan . Add this to an existing 401 k, pension, or social security ( if there is any left , when some of us retire  ) and you have another source of retirement income. A paid off house is also something you can leave to you kids or loved ones, or sell off at a profit if you need the money. 

So as you can see, owning a home or buying a home as an investment is one of the smartest things you can do to to ensure your financial future . So find a way to buy a home or investment property .  There is no wonder why owning a home is referred to as " the American dream "

Please contact me if you would like to talk about buying a home in Las Vegas, North Las Vegas, or Henderson, NV