Should I Buy a Home?

by Jennifer Johansen 10/04/2020

Photo by Monkey Business Images via Shutterstock

While homeownership often gets referred to as the American Dream, when you purchase before you are prepared, the consequences can be dire. Here are a few reasons you should buy a home.

You feel certain. Buying a house is a huge step. It’s sensible to be cautious when making such a substantial purchase. You’re taking on added responsibility and the ongoing cost of upkeep. But, when you're ready financially, it's an excellent step to take. Ownership can provide a sense of stability and security that sets you up for future financial success.
To build future equity. The best thing about owning a house is that it builds equity. Rather than tossing money away on a lease payment every month, you are paying a portion into your home’s value. Later, when you sell your home, some of this value returns to you. Be mindful, though, that housing markets only offer the guarantee of unpredictability; so housing values fluctuate widely over time. Once your home is paid off, you save yourself that monthly outgo — an excellent strategy for retirement.
Your employment is secure. If you believe your position is certain and that you’ll stay in your present job — go ahead and buy a home. Having that sure income helps you stay on budget, make your mortgage payments, and build future equity.
To access tax breaks. You can deduct a portion of your interest from your income and reduce your tax liability.
Stability for your family. Frequent moves and uprooting your family is usually less than desirable. Owning your home in the right school district and neighborhood gives everyone in the household a sense of stability.

Owning a home offers people a level of security. Putting down roots in a location you own can bring stability to you and your family. There’s also the sense of community that homeownership offers.

When you’re ready for the stability and advantages of homeownership, reach out to your real estate professional and begin settling into the perfect community for you and your household.

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About the Author

Jennifer Johansen

Jennifer is passionate about the Real Estate business, and has been involved in related family businesses in construction, architectural millwork, and finance for 20 years. She and her husband relocated to Naples, from New York, 10 years ago, although her family has owned property on Marco Island since the 1980's. She has a Bachelor's Degree in Psychology and a Dual Master's Degree in Counseling and Education. She has acquired many necessary skills that are useful in Real Estate from being in the field of Counseling for many years. She holds the belief that building rapport is vital to helping her clients have a positive experience, while achieving their goals. She is very thorough and detail oriented, and has formed many close relationships with professionals in related fields, such as law, title insurance, home inspectors and other contractors. She aims to offer concierge- level service to her clients at every price point. When time permits, she enjoys spending time with family and friends. Having grown up on the South Shore of Long Island, and enjoying her summers on Fire Island, she loves any activity related to salt water, boating and the beach. Additional hobbies include gardening, art, and studying nutrition, wellness and naturopathy. She is knowledgeable about Naples and Marco Island Real Estate, in estate areas, golf/gated communities, and waterfront properties. She is a member of The Naples Board of Realtors and Marco Island Area Association of Realtors.