Susan Hilton College Station Real Estate
Realtor & Vice President of Sales
Read my blog below
Can You Afford to Wait for Home Ownership? Do you want $184,000 or $4,000?
August 8th, 2008 Categories: Buying Real Estate
With all that has gone on with the stock market, gasoline prices, and low savings rate in our country, can you afford to wait to become a homeowner in Bryan-College Station?
As a homeowner you build wealth. How? Wealth is built through saving for a down payment and through appreciation of the property over time. Long term, real estate is consistently a great way to build a nest egg for the future.
You also have the benefit of the tax write-offs. There are many tax benefits for homeowners that are not available to tenants. Most people are able to write off some or all of the interest paid each year and property taxes. And, writing off property taxes is a big thing in Texas since those taxes are significantly higher than other states. There are also other tax benefits available for a few homeowners who are being transferred to another area, have medical issues, and even those who decide to sell.
But, as good as the tax benefits are, the main financial focus should be on wealth building for the future.
In Texas the median price of a home is $155,900. This amount is a .6 percent increase over last year. In Bryan-College Station the median price is $144,200. This is a 2.8% increase over last year. Even though much of the rest of the country has had a huge decrease in property values - you can see this is not the case in Texas as a whole, nor on the local level in Bryan-College Station.
The statistic that got my attention more than any other is this -
A home owner’s median NET WORTH is $184,000 while renters have a median net worth of $4,000. Which one do YOU choose?
Now that you know that being a home owner is a much better option for the future, call us and we’ll be glad to help you with the process, financing and choosing what works best for you.
Susan Hilton - Realtor & Sales Trainer for Century 21 Beal
Want to Search the Bryan/College Station MLS? CLICK HERE!!!
Sphere: Related Content
View Susan Hilton’s profile
Buying a home is probably one of the easiest ways to automatically increase your net worth. The important thing to consider though is how long you plan on living there and the prices of rent versus mortgage payments. That is an interesting statistic to keep in mind though!
[...] Can You Afford to Wait for Home Ownership? Do you want $184,000 or $4,000? [...]
Can You Afford to Wait for Home Ownership? Do you want $184,000 or $4,000? | College Station Real Estate Blog About Homes for Sale
With all that has gone on with the stock market, gasoline prices, and low savings rate in our country, can you afford to wait to become a homeowner in Bryan-College Station?
As a homeowner you build wealth. How? Wealth is built through saving for a d…