The Most Common Reasons To Buy A Home in Jacksonville, Florida

1. Tax Savings
Because of many available tax deductions, the government is subsidizing your purchase of a home. All of the interest and property taxes you pay in a given year can be deducted from your gross income to reduce your taxable income.  Property taxes are deductible, too. Whatever property taxes you pay in a given year may also be deducted from your gross income, lowering your tax obligation.

2. Knowing Your Monthly Housing Costs
When you rent, you can almost always expect your rent to increase each year. When you get a fixed rate mortgage when you buy a home, you have the same monthly payment amount for whatever the term of your loan is. Even if you get an adjustable rate mortgage, your payment will stay within a certain range for the entire life of the mortgage.

3. Savings Without the Effort
Some people are just lousy at saving money, and a house is an automatic savings account. You accumulate savings in two ways. Every month, a portion of your payment goes toward the principal. Admittedly, in the early years of the mortgage, this is not much. Over time, however, it accelerates.  Second, your home appreciates. Average appreciation on a home is approximately five percent, though it will vary from year to year, and in some years may even depreciate.

4. Being a Homeowner is a Special Feeling
When you rent, you are normally limited on what you can do to improve your home. You have to get permission to make certain types of improvements. Nor does it make sense to spend thousand of dollars painting, putting in carpet, tile or window coverings when the main person who benefits is the landlord and not you.  On the other hand, when you own a home you can do pretty much whatever you want. You get the benefits of any improvements you make, plus you get to live in an environment you have created, not some faceless landlord.

5. Having Your Own Space
Both indoors and outdoors, you will probably have more space if you own your own home. Even moving to a condominium from an apartment, you are likely to find you have much more room available – your own laundry and storage area, and bigger rooms. Apartment complexes are more interested in creating the maximum number of income-producing units than they are in creating space for each of the tenants.

The housing and mortgage market in the Jacksonville, Florida area is still in great shape.  If you would like to see how you can take advantage of it buy buying a new home, contact us and we can help.