1. Improved
quality of life. People spend more than half of their time at
home. It makes good sense to seek a well-designed,
cost-efficient residence.
2. Energy
efficiency. New homes are more energy-efficient than homes built
even 20 years ago. Additional insulation, dual pane windows, and
advanced heating and cooling systems are just some of the
features that can save hundreds of dollars each year.
3. Annual
tax deductions. A home is one of the best tax shelters available
since you can deduct mortgage interest and property tax from
federal and start income returns.
4. Tax
treatment of appreciation. As a home owner, you don’t have to
pay taxes on appreciation unless you sell the home and later buy
a lower-priced one or rent.
5. Increasing
your personal wealth. With most home purchases, you gradually
increase the amount of house you own with decreasing the amount
you owe.
6. Less
upkeep and repair. With a new home, you have less out-of-pocket
expense in the first 5 to 10 years.
7. Warranty
protection/ many new homes come with warranties on workmanship
and materials, so you can rest a little easier when making your
purchase.
8. The
options and amenities you want. New homes feature modern
appliances and fixtures designed to add value and ease of
living.
9. Delay
can cost you. Once you find a home and a financing package that
fits your needs, you shouldn’t delay your purchase in hopes of a
better deal.
10.
Mortgage rates are low. Current mortgage rates
are historically low, so take advantage.
10
Reasons to Buy a New Home