Home Sweet Home—How Much Home Can You Afford? | Cleveland Bradley County Teachers Federal Credit Union

Are you tired of paying someone else rent month after month? We can’t blame you!

That’s why our team at Cleveland Bradley County Teachers Federal Credit Union wants to offer some insight on becoming a homeowner. Let’s take a look at the many benefits that come with buying a home:

You’re Investing in Yourself

When you are paying someone rent, that money is only going out each month. You are helping someone else build equity. Wouldn’t you rather put your hard-earned dollars to work for you?

As time goes on, the value of your home will increase. Especially if you make certain home renovations along the way, you should be able to see a bigger return on your investment when the time comes to sell.

Therefore, you can rest assured that with every mortgage payment you make, you will one day be seeing a return on your investment—whereas with renting, you will never see that monthly payment again.

You Have More Freedom

How many times have you wanted to paint a wall but can’t because the landlord won’t allow it? Do you want to add a furry friend to the family but can’t because your rental doesn’t allow pets?

There are restrictions placed on tenants by landlords when renting out a space. As a result, you might not be able to feel like you are really home, although you are living in a place you pay for.

Owning your own home will give you more freedom to use your space. If you want to paint a wall, paint a wall! If you want to have a dog, get a dog! The choice is yours when it comes to having your own space.

You Have Access to Tax Deductions

Right now, you are probably knee-deep in getting your taxes ready for Tax Day. Wouldn’t it be nice if you could check the “homeowner” box when filing taxes so that you could save money on possible tax deductions related to owning a home?

Survey says—yes!

Do you see yourself in a new home in 2019? Contact the Cleveland Bradley County Teachers Federal Credit Union team today to learn about our mortgage options.