Full time Realtor available 24/7/365 to address your needs. Licensed Realtor since 1997. Licensed appraiser in Illinois. Straight talk & honest answers. Always working for your best interests. Hundreds of closed transactions=great experience=piece of mind for you. Call me for the service you deserve. Satisfaction guaranteed Tom Lysik 224-800-4731
Purchasing a home is the biggest financial investment in someone’s life. People buy homes both for psychological and financial reasons. Home ownership is, for many people, a sign of financial stability. For many it is an investment that can appreciate in value and provide federal income tax deductions. It also imparts benefits that are less tangible but no less valuable like security, pride, and sense of belonging to the community. The following are a few reasons people consider when purchasing real estate:
♦ Tax benefits – in order to encourage home ownership, the federal government allows homeowners certain tax advantages. They may deduct from their income some or all of the mortgage interest paid as well as real estate taxes and certain other expenses
♦ Investment – buying real estate offers several financial advantages to a purchaser. First, if the property’s value increases, a sale could bring in more money than the owner paid, creating a long term gain. Next, as the total mortgage debt is reduced through monthly payments, the owner’s actual ownership interest in the property increases. This is called equity and that represents the paid-off share of the house held free of any mortgage. Equity also builds when the property’s value rises through area appreciation. The last financial advantage of home ownership is in tax deductions available to homeowners but not to renters
♦ Exchanges – real estate investors can defer taxation of capital gains by making property exchanges. Even property that has appreciated greatly since its initial purchase may be exchanged for another property. An accountant will be the best source to get all the details on property exchanges
Since purchasing home is the biggest financial investments many people will ever make, doing it right the first time is very important. Being equipped with basic knowledge on the subject will help you to make an educated decision in making the biggest investment of your life. It will also help you make it easier to go through the whole process which involves several steps. The typical time frame in this process for a serious buyer lasts from one to six months before the location is selected and the right house is found. Prepare yourself for this journey by reading books, articles, attending seminars, and finding information on the Internet. It will pay off at the end. Go through all the pages on this website under the Buyers section to learn the basic steps you will be going through in the process of purchasing your new home.
Reasons why to purchase home