Financial advisors are saying that purchasing a home is one of the best investments for us millennials and today we want to explain to you why that is! To start off, you'll be spending your money smarter. Instead of paying off someone else's mortgage with your rental payments, you'll be investing in your home which will benefit you in the long run. When tax season comes around you're able to write off all the interest you've paid on your mortgage and you can write off a portion of your property taxes. Over the years, your home will appreciate which means you'll get more money for it if you decide to sell. Lastly, you get the freedom to do what you want. No animal or breed restrictions and you're able to paint or tear down walls as you wish.
Tip of the Week: If you're thinking about renting, give us a call at 719.822.1MOM. You may not know but in this market getting into a rental can be harder than qualifying to purchase a home. Your credit score and income often need to be higher. We can get you hooked up with a local lender and if you're worried about your credit we work closely with people who can help you repair it.
Next week we'll be discussing why you should use a local lender over the big banks when purchasing a home.