Top Ways a New Home Can Be Your Secret Weapon as a Long-Term Investment
Owning a home has long been considered a smart investment with the equity you can build and the potential for profit when reselling the home in the future. Learn how buying Bentsen Palm Rio Grande new homes can be your secret weapon as a long-term investment for you and your family.
Equity – This is the difference between how much the home is worth and how much you currently owe on the mortgage. The longer you own your home and have paid down your mortgage, the more equity you have. This could be used to take out a home equity loan (second mortgage) to pay for home improvements, college tuition or other expenses that you may have in the future.
Supplement retirement income – While you are likely saving for retirement using a 401k, IRA or other means, your home could also be potential income for your retirement should you decide to sell it or rent it for a monthly income when you are ready to move into a smaller home.
Resale value – The Rio Grande Valley is one of the fastest growing markets in the state and Rio Grande new homes continue to see an increase in value year over year, up 6.4 percent in 2016 compared to 2015. And the likelihood is that as more and more people move into the area, the value will continue to go up, increasing the potential resale value of your new Bentsen Palm home and helping you to turn a profit if and when you do decide to sell.
Tax advantages – Your mortgage interest is deductible from your income tax, which helps lower your taxes while you are paying for the home. And should you decide to sell at a later date, you will most likely not have to pay a capital gains tax when you sell as long as the property value increases by less than $250,000 and the home has been occupied as a primary residence for more than two years.
Legacy – If you’re about to retire and ready to move into a new Bentsen Palm home, the investment you make today could be something you pass onto your children, making it a long-term asset for their future as well.
And on top of all the long-term investment advantages to owning your home, there are also positive emotional benefits to living and investing in a Rio Grande new homes community where you build lasting relationships and friendships. All the more reason to make a great investment in a new Bentsen Palm home!