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Benefits Of Buying A Houston Home
Around 49,800 people relocated to Houston last year, with approximately 4,000 more moving in each month. Houston real estate is on fire with record-breaking home sales.
Looking at this trend, here’s a list of reasons why owning a Houston home is a good investment.
Houston homeownership builds wealth over time.
Market analysts expect over 200,000 new jobs in Houston by the end of the year. Our unemployment rate is nearly 2% lower than the national average. Long-term, property values increase as employment grows in the area.
Six “Close In” Houston neighborhoods posted at least 10% appreciation per year over the past few years.
You build equity every month.
Equity is the amount of money you can sell a house for minus what you still owe on it. Every mortgage payment reduces the amount you owe, and increases your equity and investment.
You receive tax benefits.
The tax code allows homeowners to deduct home-related expenses from their income tax obligations like: mortgage interest, closing cost deductions, and interest on home equity loans.
Property tax is also deductible for income tax purposes. Houston homeowners also have Homestead Exemptions.
Owning real estate allows you to diversify your investment portfolio.
Houston has 5.9 million people in the MSA (Metropolitan Statistical Area) as of the last census. Houston’s Area Council expects this to grow to approximately 7.6 million by 2025. Owning real estate poised to take advantage of this growth can offer value for your portfolio.
Buying now allows you to take advantage of record-low mortgage rates.
Interest rates are at historic lows: below 4% for a 30-year, fixed-rate mortgage and below 3.25% for a 15-year term. The Fed has committed unprecedented capital to reducing interest rates, benefiting current homebuyers and homeowners looking to refinance.
Contact Paige Martin, Owner of HoustonProperties.com & Broker Associate at Paige@HoustonProperties.com or 713-384-5177 for help on buying or selling a Houston home.
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