6 Reasons Why you as a nurse should buy a house in 2017!
Owning a home can be a very satisfying feeling and can potentially also be very rewarding from a financial stand point.
Even though we will list out some of the major benefits of buying a home in 2016 it is important to take into consideration all aspects of one’s financial plan and to understand both the positive and potentially negative impacts home ownership can bring.
Below are some of the main reasons why buying a home can make sense right now, but as always remember not too buy too much home so that you do not get stressed over the monthly mortgage payments that are due every month.
- Interest rates are very low and therefor it can be a great time to lock in a 15 or 30 year fixed mortgage.
- You will get some tax breaks and most likely you will be able to deduct the interest that you are paying on your mortgage which can help you lower your overall taxes and thereby brings down the overall cost of borrowing money.
- You do not have to pay rent and you can instead “pay yourself” and take advantage of potentially owning a home that goes up in value over time.
- If you lock in a fixed mortgage your payments will remain level (rents may increase over time) and by way of you possibly earning more as your career progresses the mortgage payments will take up less and less of your monthly budget.
- Owning a home can create stability within your family since you know you will be able to stay for as long as you want.
- It can be a good forced savings vehicle that will help you build wealth now and in the future.
To learn more about the difference between a 15 year and a 30 year mortgage click here
Written by CreativeNurse Team
2016-22842 Exp. 5/18