7 Reasons to Own Your Own Tucson Home

1. Tax breaks. The U.S. Tax Code lets you deduct the interest you pay on your Tucson mortgage, property taxes you pay, as well as some of the costs involved in buying your home.

2. Gains. Over last five years (1998-2002) national home prices have increased at an average of 5.4 percent annually. And while there’s no guarantee of appreciation, a 2001 study by the National Association of REALTORS® found that the typical Tucson homeowner has approximately $50,000 of unrealized gain in a home.

3. Equity. Money paid for rent is money that you’ll never see again, but mortgage payments let you build equity ownership interest in your Tucson home.

4. Savings. Building equity in your Tucson home is a ready-made savings plan. And when you sell in Tucson, you can generally take up to $250,000 ($500,000 for a married couple) as gain without owing any federal income tax.

5. Predictability. Unlike rent, your mortgage payments don’t go up over the years so your Tucson housing costs may actually decline as you own the home longer. However, keep in mind that Tucson property taxes and insurance costs will rise.

6. Freedom. The home is yours. You can decorate any way you want and be able to benefit from your investment for as long as you own your Tucson home.

7. Stability. Remaining in one Tucson neighborhood for several years gives you a chance to participate in community activities, lets you and your family establish lasting friendships, and offers your children the benefit of educational continuity.