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Real Estate f=>
Eileen M. Day realtor
VALUE OF HOME
OWNERSHIP
If you ask me why you should buy a "home, I can give you three sound reasons:
STABLE HOIJSING COSTS: ^ There is no sure*way of telling how high rent will be in the future, but you can surely bet it will continue to rise. Depending upon the type of mortgage a homeowner selects, monthly payments can remain fixed — or at least predictable — over the life of the loan.
EQUITY BUILDUP: Once rent money is spent, it’s gone forever. However, each monthly mortgage payment reduces the,amount owned on the loan while building up equity (dollar ownership) on the property.
INCREASED VALUE: Here’s the big one. Most goods lose value with age and use. Home values, on the other hand, have a long history of increasing faster than the rate of inflation. That increase is on the entire amount of the value, including the mortgaged portion. On top of that, homeowners have the best tax breaks going and will continue to do so into the foreseeable future.
If there is anything we can do to help you in the field of real estate, please phone or drop in at EILEEN M. DAY, Realtor, The Clopton House, Washington, Va. 22747. Phone: 675-3400. We’re here to help.
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