Tuesday, August 8, 2017

Why Lexington MA Homeownership Is Financially Smart

Financial Perks to Lexington MA Homeownership
If you are not yet a homeowner in Lexington, MA, but are considering buying a Lexington home soon, this is for you! Buying a home is one of the biggest financial decisions you’ll make in your life, if not the biggest. It’s not one to take lightly! As a Lexington real estate agent, I am here to fill you in on why buying is a smart decision for most.

Don't just take my word for it. In the recent National Association of Realtors’ 2017 National Housing Pulse Survey, 84 percent of Americans said they believe that buying a home is a good financial decision. That overwhelmingly positive response is the highest it has been since 2007, before the housing crisis!

Let’s take a look at why buying a Lexington, MA home makes sense for your finances:
  • The money you spend on owning a home goes toward home equity. When you go to sell your Lexington home, you get most, all or more of your money back. When you rent, you are building your landlord’s equity, and you never see that money again!
  • You could have a happier, more financially secure retirement by owning a Lexington home. You could pay off your mortgage by the time you retire, or you could sell and have a lump sum to help see you through retirement.
  • Homeownership allows you to build long-term wealth and net worth! Homeowners have exceptionally more net worth than renters, because few renters can or will save this much money on a regular basis. For homeowners, since you will see that money again, it’s like a forced savings plan!
  • Homeownership provides a predictable monthly mortgage payment. Rent prices have been skyrocketing, with no end in sight. As a renter, your rent is likely to increase over time. With a fixed-rate mortgage, the amount you pay will remain the same!
  • If you hate paying taxes, good news. Lexington homeowners can enjoy a range of federal, state and local tax deductions as homeowners.
These are just some of the financial perks to homeownership. This doesn’t even get into all the other perks of owning a Lexington, MA home, such as feeling safer, getting to know your neighbors, designing your home as you please, having more space and so on.

Ready to buy a Lexington, MA home? Have questions about the home-buying process or about the Lexington, MA real estate market? As your Lexington real estate agent, I am here and ready to help you in any way that I can. All you have to do is contact me!

Theresa D'Antuono

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