Buying a home in San Mateo has several unique advantages when compared with renting. Aside from being able to decorate as you choose, receive additional tax benefits, enjoy stability in your housing payments, and increase your ability to make future investments, it just feels good to own your own home and put your roots down within the San Mateo community!
A survey was conducted this past April by the PEW Research Center,( a non-profit, non-partisan organization considered a “fact tank” on social and demographic trends in America,) determined that the majority of adult Americans (81%) still believe “that buying a home is the best long-term investment a person can make.” It’s interesting to note that while the same study showed that 47% of those surveyed felt that current economic factors have resulted in a decrease in their current home value, those same home owners felt that their home investment was a safe one.
Even renters seem to agree with the idea of investing in a home, with 81% wishing to buy a home at some point, even if individual circumstances currently prevent it. In fact, when asked to rate long-term financial goals, homeownership and “being able to live comfortably in retirement” were rated the highest by 80% of those surveyed. Survey participants seemed to understand that owning a home provides more than an avenue for generating savings – it also is a place to live and provides an element of physical and emotional stability unlike other investment options.
Delving further along in this question, the survey compared investments by trying to determine which held best in the long run, the stock market or the housing market. The answer was variable, depending on the year of investment, and it was unable to be determined overall, which is really interesting. One factor not considered in the survey is that owning a home provides income tax benefits that are not likely to be found with any other investments, and that could affect the dividend bottom line and how you choose to invest. Click here to view the survey in its entirety.
One major advantage in owning your own home in San Mateo is that your costs can be fixed. With a mortgage of fixed length meaning of 15, 20, 30 or more years and fixed interest, you will always know what your monthly payment will be. In California, property taxes are pretty consistent, too, as they can only go up a maximum of 2% a year.
When you rent, expect your rent to go up between 4 to 6% a year as you’re paying your landlords mortgage for him. Why? Interest rates today are still giving you almost free money. Why not take advantage of this and buy a home for the first time. We’re here to help you with that! Give us a call so we can show you first hand. Here are homes for sale in San Mateo right now.
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