The Benefits of a Site Built Home

Why should I build a home? There are many social and economical benefits from home ownership. The major advantages are:

There is no place like home. Your home will give you a secure feeling of permanence.

 

Scheduled savings: With a fixed rate mortgage your monthly payments are like a savings plan. Over time you will gain equity in your home. Conversely, a renter will never gain equity and can expect the monthly payments to increase over the years.

 

Increased Value: In most cases, 15 years from now your home will be valued much higher than what it cost to build today.

 

Tax Benefits: Homeowners are eligible for huge tax advantages that renters cannot get. The interest on your mortgage is usually tax deductible and will save you a lot of dollars on your annual Federal Income Taxes.  

 

Here are some indirect benefits of Home ownership. First, home ownership is the basis for fostering a healthy secure family and community. According to the Census Bureau, home ownership provides important social and economic benefits including positive community involvement. The data from the U.S. Census Bureau, homeowners are less likely to move than renters and provides stability to the neighborhood. This indirectly benefits the community by preventing crime, improving children's education, and upkeep of the neighborhood.

• Educational Benefits: Green and White wrote in the Journal of Urban Economics about measuring the benefits of home ownership and the effects on children. The data showed that children of homeowners have a significant effect on their children's success. The decision to stay in school was found to be much higher than those children of renters. They go on to say that daughters of homeowners have a much less rate of teen pregnancy.

For more information on the social benefits of home ownership please click the link to the right...Social Benefits. The .pdf document will open in its own browser.

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