American Dream | The Yeatman Group Long & Foster Blog

Friday, October 14, 2016   /   by Becca Scott

WHAT ARE THE BENEFITS OF OWNING A HOME?

So you’ve thought about it over and over (and over) again, but you are still on the fence about whether you should continue renting, or start the process of buying your own home. Owning a home is part of the American dream, but it’s a huge step to make, we know! To help you with your decision, we’ve come up with the top 4 benefits of owning a home.





You Will Build Wealth and Equity Over Time





Equity is the amount of money you sell your home for minus what you still owe on it. The amount left over is your home equity. On each of your monthly mortgage payments, a portion of it goes towards reducing the amount you owe on your loan, which in turn increases your equity.


Over time as the interest portion of your mortgage payment decrease, the interest that you pay will eventually be lower than the rent you would have been paying. But instead of throwing money away when renting, you will be continually building wealth! 





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  real estate, owning, benefits, homeownership, midlothian, american dream, owning vs renting

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Midlothian, VA 23114

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