Carolina Farms & Estates
Selling Your Property is More than our Profession...It's Our Passion
PHONE:  (803) 242-8953
1830 Hands Mill Hwy, Rock Hill, SC 29732

Why Should You Own a Home?

Information for Buyers

Some people like the flexibility that comes with renting. When you rent, you can live in a neighborhood for as little or as long as you want. You're also free of most maintenance responsibilities – your landlord usually handles repairs.

Of course, there are many other reasons owning a home can be beneficial. These are just a few....

Build Equity

In the early years of most mortgages, the majority of your monthly mortgage payments go towards interest on your loan. Over time, an increasing amount of the monthly payment goes toward reducing mortgage balance, or "principal".
 
As you make payments, you reduce the principal and increase your share, or equity, in your home's value. If your home increases in value through appreciation, your equity will build even faster.

Building equity or savings in your home is necessary. For many people, it lets them plan for retirement and other future goals.

Gain Tax Advantages

You are allowed to deduct mortgage interest and property taxes from your federal income tax and some states' income tax. These deductions can mean significant tax savings, especially in the early years of the mortgage when interest makes up most of the monthly payment.

After calculating your taxes, you may find that it's cheaper for you to buy than to rent.

Rely on Payment Stability

If you select a fixed-rate mortgage, you will pay the same monthly principal and interest payment for the term of your loan. Unlike renting, this type of payment will remain the same month after month, even when inflation leads to higher prices. However, your total monthly housing expense could vary if tax and/or insurance expenses change.

Tim Helline
CAROLINA FARMS AND ESTATES
Ph: (803) 242-8953Fax:(803) 656-0761
1830 Hands Mill Hwy
Rock Hill, SC 29732 US
www.carolinafarmsandestates.com
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2017 - Carolina Farms & Estates, LLC All rights reserved. An Equal Opportunity Company. Equal Housing Opportunity. Disclaimer: All properties are subject to prior sale, change or withdrawal and all information deemed reliable but not guaranteed and should be independently verified. All acreage is approximate and subject to survey. The listing broker(s) and Carolina Farms & Estates, LLC shall be held totally harmless and not responsible for any misprints, typographical errors, and misinformation.