By Jason Boone
At one point many people decide to invest in Bend Oregon Real Estate since they need to buy homes for their families but what they don’t realize is the important fact that home ownership is also the start to wealth building.
What a Mortgage Really Does For You
Did you know that a mortgage actually functions as a “forced” savings plan where your deposits will continue growing over time?
This is especially true the longer you own a home since you will build equity in your home over time.
Down the road you will be able to use that equity in your home to invest in more Bend Oregon Real Estate or other wealth building products which will benefit your retirement.
Better Appreciation than Other Investments
The longer you own a home in Bend, the more you will benefit from appreciation over time.
A recent study done by Harvard showed that home owners who owned their own homes between 1975 and 2012 realized an adjusted gain of at least 30% over the span of 30 years.
Protection From inflation
What’s also great about owning a home is you will also enjoy further protection against inflation by locking in your payment during the period of time you own your own home.
The longer you own your own home, the better, since with inflation your “real payment” will decline as inflation causes rents for Bend Oregon Real Estate to increase in the years to come.
Many Tax Benefits with Bend Oregon Real Estate
Last of all, but most important, owning a home does come with the advantage of tax benefits.
For example: If you buy Bend Oregon Real Estate you may be able to take advantage of the well-known mortgage interest rate deduction which will enable you to deduct your annual interest which you’ve paid into your property every year and property taxes up to $500,000.
To learn more about the benefits of home ownership or to view homes for sale across Bend Oregon contact me, Jason Boone, Principal Broker with Principal Broker at Duke Warner Realty | Skjersaa Group by calling me at (541) 383-1426 or click here to contact me through my website.