Home ownership is a smart investment since it offers the possibility for appreciation in value. Building equity in the home is like a savings account for the future. Biggest reason, in my opinion, is instead of giving rent money to the landlord, you are paying off your investment each month and you are living in it while you are building up your investment. Another important reason why buying a home is better than renting is the fact that mortgage interest and property taxes are tax deductible. Home ownership can save you significant amounts of money every year.

Unlike renters, homeowners with a fixed rate loan can lock in their monthly housing costs and secure their budget plans with confidence knowing that these expenses will not increase significantly. Another reason is control. Homeownership puts you in control of your own property, for example – deciding to remodel or add a deck without needing permission from your landlord.

There is no doubt in my mind that owning a home is better than renting even in today’s slipping economy. Today may be the best time for “First Time Buyers” since prices of homes are much lower and interest rates are the lowest in decades. A great house for the “First Time Buyer” is located at 36 Central Ave. in Highlands, NJ. This home is affordable and completely remodeled featuring 3 large bedrooms, great room, laundry, full bath, deck and a few blocks to private beach and NYC commuter ferry…..for a low price of $299,000. See photo gallery for distinct photos of this property and further information.

For a personal free consultation to determine eligibility for first time homeownership, please contact me.