Why some people choose to rent:

• Major repairs are the landlord's responsibilities.
• Moving to a new location can happen quickly when the lease is up.
• Nearby neighbors provide security if you're in an apartment complex.
• Monthly expenses are more predictable when major repairs aren't an issue.
• Having money to buy and move into a home doesn't seem affordable.

There are many different mortgage packages available to help you achieve the American Dream of home ownership – contact a Mortgage Consultant to find out what will work best for you.

The benefits of being a homeowner:

• Making mortgage payments is like having a savings account that accumulates savings (equity) for the homeowner, not the landlord.
• Buying a home is considered to be a wise investment by many because real estate generally increases in value over time.
• Mortgage interest and property taxes may be tax deductible. (check with a tax advisor)
• Personal satisfaction of having a home you can call your own to share and enjoy with family and friends.

As an example, let's look at the purchase of a $200,000 house putting 20% down ($40,000). . At an appreciation rate of 5% annually, a $200,000 home would increase in value $10,000 the . first year. That means the homeowner earned $10,000 in one year with just a $40,000 investment. In fancier investment terms, that makes the ROI (Return on Investment) 25% the first year! What stock or money fund has produced that kind of ROI in the last few years? Added to the appreciation value are the tax deductions that may be allowed. Let's assume the mortgage interest and property taxes on the $200,000 home are $15,000 in one year. That means the homeowner's taxable income may be reduced by $15,000 (check with a tax advisor).

Take the next step and contact a Long Realty agent.