Faith, Ledyard & Faith, PLC
COVID-19 NOTIFICATION: To protect your safety and the safety of our staff, in response to the threat of COVID-19, we are offering the option to connect with us via telephone, email and video-conferencing. Our staff are fully operational. Please call or email us to discuss your options.
A Full-Service Law Firm Serving the West Valley and Greater Phoenix for More Than 40 Years
PA Image
Real Estate Law
PA Image
Personal Injury
PA Image
Civil Litigation
Construction Law
PA Image
Bankruptcy
PA Image
Employment Law
PA Image
Estate Planning
PA Image
Debt Collection
PA Image
Government Law
PA Image
Criminal Defense
PA Image
Business And
Commercial Law
PA Image
En Español

Advantages to buying your own home

| May 29, 2019 | Real Estate Transactions |

For those who have never owned a home before, the idea often sounds daunting and intimidating. Is it really a wise idea to buy something that is worth so much more than anything else you own? What does the fine print say? Are you overlooking anything important?

These are good questions to ask when you consider buying a home, and it’s also wise to think over some of the main advantages to homeownership that make the financial move worthwhile. A few of them include:

  • You create equity in the house. You may be able to use this to get other loans in the future.
  • You put your money toward something that you actually own. That’s different from rent money that’s simply gone forever.
  • You can increase your credit score and show lenders that you are not a risk. As with equity, this can help you with other types of borrowing.
  • You get to make the home what you want it to be. With an apartment, you often have restrictions and can’t make improvements. A home really feels like your own space.
  • You can deduct some of what you pay for the house when you file your income taxes. Though you still pay more than you deduct, of course, you can save some money in this fashion.
  • Your investment can increase its value. You may find that your home is worth far more than you paid for it after a few years based on the market.

If you’re thinking about buying a home, it is also important to take the time to make sure you understand the legal process.

Lead Counsel Rated LC
Certified specialist | State bar of Arizona | Real Estate | Law Specialist
Distinguished AV | Peer Review Rated | LexisNexis Martindale-Hubbell | For Ethical Standards & Legal Ability
Martindale Hubbell AV Preeminent peer rated for highest level of professional Excellence 2020
Expertise Best Real Estate Layers in Phoenix 2020
FindLaw Network

Stay Connected With Us