GRAND TRAVERSE AREA HOME BUILDERS HIGHLIGHT BENEFITS OF OWNING A HOME DURING NATIONAL HOMEOWNERSHIP MONTH

Traverse City, 6/6/2011 — Tax advantages, long-term financial security and the ability to decorate or renovate to your family’s personal style are just a few of the advantages of homeownership being highlighted by the Home Builders Association of the Grand Traverse Area during National Homeownership Month in June.

“Despite the market downturn, there are still many incredible long and short term advantages to owning a home,” said Marc Burkholder, HBAGTA President, “And for anyone thinking of buying there are unprecedented opportunities in the current market including a large selection of affordable homes for sale and interest rates that remain near historic low levels.”

The financial benefits of homeownership begin in the first year for most home owners, through the ability to deduct mortgage interest and property taxes paid off their taxable income. This can result in savings of thousands of dollars every year, especially in the early years of the mortgage when interest makes up the largest portion of the monthly payment. 

Over years of ownership, home appreciation builds financial security for a family’s future. While home values can fluctuate with economic conditions, they have historically increased over the long term.

Finally, owning a home provides important emotional benefits in addition to financial advantages.

“Home buyers and home owners should never forget that first and foremost, a home is where your family can relax, spend quality time together and build lifelong memories,” said Burkholder.

To learn about homeownership opportunities in Grand Traverse Area, contact the Home Builders Association of the Grand Traverse Area at http://www.hbagta.com/ or call 231.946.2305.