In addition to providing you with a break on your income taxes, through your mortgage interest and your property taxes, and providing you with a steady housing payment for the next 20 or 30 years, owning a home has other financial incentives – incentives you may have not considered!

• Owning a home allows you to build equity for future use!

Building equity in your Terrell Hills home is one of the biggest reasons people choose buying over renting. Even if you do very little to improve your home, it will likely increase in value over the years based on market conditions. The equity in your home is like a savings account that builds up without you even adding anything to it! In other words, the equity in your home is like your own personal savings account; an account where you can withdraw money for any number of reasons.

You can access the equity in your home, without selling it, by simply taking out either a home equity line of credit or a home equity loan. Many people take out home equity loans or lines of credit to: repair, update or renovate their home; to pay off high-interest rate debts; to send their children to college; to purchase a vehicle; or to simply take a nice vacation! The truth is that home equity is an important tool for homeowners that can even be used to get themselves out of financial trouble or get them through financial hardships. Whatever you choose to do with the equity in your home is your choice, thereby making the process of building equity one of the most important aspects of owning a home.

• Owning a home keeps your money where it belongs – in your pocket!

You’ve heard it before, but it bears repeating: passing rent along to a landlord is like throwing your hard-earned money down the drain. There are, of course, people who benefit from renting, such as those who move often or are not financially secure; but for most individuals, it just pays to keep money where it belongs: in their pocket! Although you pay mortgage to a lender, you are building equity at the same time, thereby putting money back into your investment.

Although a home’s structure is a very important part of purchasing a home, there are other factors beyond the home’s four walls that also play an important part when deciding whether a New Braunfels property is right for you:

• Yard – Even if a yard isn’t a very big deal to you in terms of your next home purchase, you will want to examine it to make sure it provides you with adequate privacy and personal space. For example, a home on a corner lot may seem like a great idea until you realize that your backyard is very small and is up against the neighbor’s backyard, thereby providing you with very little privacy. If you have small children, consider whether the yard’s location is safe and secured, and whether it is near a busy street or intersection.
• Location – The location of the home is another important consideration, as you will want to be in a home that is close to the things that are most important to you. Therefore, you may want to consider whether the home is close to your place of employment, your children’s school, the grocery store, public transportation, or even the shopping mall. In addition, consider how easy (or hard) it is to make your way out of your neighborhood and through your town.
• Neighborhood – Before considering a home in a particular neighborhood, it is important to consider the neighborhood itself. If you have children, you will want to pay close attention to the schools and amenities, such as playgrounds, in the neighborhood. You will also want to check on home values and whether they have increased or decreased in the last five years. Remember that location is crucial when purchasing a home, as it could determine the overall success of your investment.
• Amenities – Consider the amenities offered by the neighborhood. Do they have a neighborhood watch? A neighborhood swimming pool? A community park or playground? Are the streets lined with sidewalks? Do they have a strong police force? Paying close attention to the community and the services and amenities it provides its residents is an important factor when deciding if it is a neighborhood that will grow and flourish in the upcoming years or lose its luster and experience falling home values.