Often in today’s media driven, headline grabbing world the true benefits of homeownership are overlooked.
We all know that looking after a home is hard work, however asides from the sense of pride that it brings to manicure your lawn, renovate the bathroom or repaint the house there are other factors – some obvious, some less so – which make homeownership worthwhile.
The biggest benefit, particularly in this market is future wealth – prices are low, mortgage rates are low and there is a great selection of inventory. Grab a home in Malibu and the surrounding area now and in a few years time you could be sitting pretty indeed!
The U.S. Department of Housing and Urban Development (HUD) notes that “home equity is the largest single source of household wealth for most Americans. So in an appreciating market, with the average historically being 6.5% per year – homeownership is a sound investment strategy. Appreciation aside, while you are making those monthly mortgage payments, you are paying yourself by building equity! A home is an asset which can grow over the years – meanwhile the owner benefits from tax breaks and right now, great tax credits!
Asides from these obvious factors, there are the less obvious, as some studies have shown that owning a home can make you healthier and make children happier and more successful at school according to HUD.
Homeownership allows people to have greater control and inspires responsibility over their living environment. It helps stabilize and strengthen communities. And it helps generate jobs and stimulate the economy according to the National Homeownership Strategy.
And according to NAR’s Social Benefits of Homeownership and Stable Housing, homeownership brings with it:
* Higher educational performance and better behavior of children
* Lower community crime rates
* Lessened welfare dependency among households
* More household participation in civic affairs
* Better household health
So, why not come off the fence today and purchase that perfect Malibu home – that way you can see for yourself the benefits of owning a home in the area.
If you are interested in purchasing a property or selling a property in Malibu, Pacific Palisades or the surrounding Beverly Hills/southern California area then please contact Judy Kunisaki for professional real estate advice in the Westside Los Angeles area, on 310-317-8396 or via her online contact form on her website.
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Judy Kunisaki – CA DRE license 00963582
