You are 22 and just graduated from college with well paid, steady job… maybe you haven’t met the love of your life, but for sure you need to have a place of your own, away from your parents.
At this point you start looking for a rent or considering the possibility of buying your own house. Buying a house is not an easy decision, not only because there may not be enough certainties, but also because investing in a house requires you to give the bank guarantees that maybe you do not have or do not think to have in order to be approved a mortgage. Considering to buy a house could be one of the best accomplishments in your life that eventually will benefit you. Here are five reasons why buying a house is one of the best choices you could make, especially if you are young.
1. Rent is expensive
2. Mortgage interest is tax deductible
Interest that you pay on your mortgage is tax deductible, within limits. If you’re married and
filing jointly, you can deduct all your interest payments on a maximum of $1 million.
3. Great interest rates on mortgages
4. House values are likely to go up over time
value well under their real, therefore people who invested back then today may have a
property worth even twice the amount spent. Since demand for houses is increasing, price
will go up, but buying now could benefit you securing a nice house for a decent price. The
earlier the better!