Buying Your First Home in the Southern Ocean County Real Estate Market
Real Estate Investment and the Southern Ocean County Real Estate
Owning a home is one of the core concepts of the American Dream. As with any major purchase, it is important to understand the different risks and rewards associated with the purchase and make sure you do not over extend yourself! The Southern Ocean County real estate market offers some excellent housing options including Stafford, Barnegat and Little Egg Harbor with affordable homes and great school districts!
Why Buy a Home in the Southern Ocean County Real Estate Market?
For most, buying a home will be the single largest investment made. Owning a home offers many benefits however there are also risks associated with homeownership. It is therefore important to understand all aspects of home ownership-both the good and the bad! The Southern Ocean County real estate market offers many different locations and price points all within range of many job centers. There are excellent school districts like Southern Regional, Pinelands and Barnegat and there is much fun and excitement in the area. Therefore, the Southern Ocean County real estate market makes a strong argument for buying your first home.
The Advantages of Home Ownership
Real estate can be a sound investment. As mortgage payments are made over time, equity accumulates in the property meaning you will own a larger percentage of the house. Renting does not offer this.
- Historically real estate increases in value over time. While the Southern Ocean County real estate market is subject to the ups and downs of any financial market, overtime real estate shows great appreciation.
- There are tax advantages to owning real estate. In most cases, the mortgage interest and property taxes can be deducted from your taxes
- Owning a house can be a sound way to plan for your finances. Most mortgages offer a fixed rate meaning it is easy to budget how much your monthly expenses will be
While homeownership offers some great advantage, there are also risks. Buying your first home is a lengthy and complex process with many unseen costs (such as an attorney, a survey, etc). There are additional maintenance expenses with homeownership and if you fall on hard times, it may be difficult to sell your home. Even with the risks, owning a home offers many advantages that can outweigh the risks. If you are interested in buying your first home and would like more information about the local real estate market, please do not hesitate to contact us and will be happy to help!
The Beach Haven West Real Estate Group and Southern Ocean County Real Estate Specialists