The American Dream...the right to buy, sell and own private property.

March 9, 2011 - PRLog -- Because of its importance, let’s begin by taking a look at the benefits of home ownership.

Pride of Ownership

The free enterprise system is one that rewards success. Traditionally, a home is one of the most significant signs of success. The obvious pride that one feels owning a home is one of the great emotional and psychological rewards for attaining some degree of success in our society. This feeling of pride is continually nurtured as home owners upgrade the quality of homes they own.

Appreciation

In the last decade, our country has experienced a steady growth rate in real estate values. There may be periodic ups and downs in any given market area; yet, over the long term, prices have continued to grow steadily and are forecasted to do much the same for many years to come. Real estate also provides the owner(s) with control over value potential. This allows the homeowners to benefit by having control over a high value asset with a low initial down payment. Unlike other investments, where you realize a return only on the amount of money invested, home ownership allows you the  opportunity to obtain a return on both invested and borrowed money. This technique, known as leverage, provides a unique method for every homeowner to enhance his or her net worth.

Tax Advantages

Despite many changes in the Internal Revenue Service tax laws, home ownership continues to provide unique tax advantages for ownership of a primary residence. Mortgage interest and property taxes are deductable from regular income before tax computations on a primary residence.   Some closing costs are also deductible.  The tax advantages also continue when purchasers move on to a second home. Consult an accountant for further education on all tax advantages you may obtain through this investment or ask us for other appropriate sources that can assist you in such further education.

# # #

Whether you are buying or selling a home in Dallas, or you are relocating to the Dallas area, the The Harrison Group is here to help.