The Jersey Shore by Karl Hess: March 2019

Become an Ocean County Homeowner

What are the Benefits of Becoming an Ocean County Homeowner?

Every family has a list of important dates. We celebrate birthdays, anniversaries, pet adoptions…and the list goes on. For 64.4 percent of households in the United States, this list includes the day they became a homeowner for the first time!

Why is this date important? Homeownership is not just a roof over your head! It represents shelter, stability, wealth, and pride! For decades, homeownership has been an important part of the American Dream!

Search for Your Dream Home in Ocean County

However, many question if the next generations see the same benefits of homeownership as their predecessors.

In case we have forgotten, some of those benefits are:

Non-Financial Benefits

1) Educational Achievement: Homeownership has a positive impact on academic achievement, including reading and math performance in children 3-12 years old.

2) Civic Participation: “Owning a home means owning a part of the neighborhood.” Homeowners have a stronger connection to their neighborhood and are more committed to volunteer.

3) Health Benefits: Adjusting for a range of demographic, socioeconomic and housing-related characteristics, homeowners have a substantial health advantage over renters.

4) Public Assistance: The report shows 47% of homeowners use their home equity credit lines to help pay other debts, diminishing their need for public assistance.

5) Property Maintenance and Improvement: A well-maintained home not only generates benefits through consumption and safety, but a high-quality structure also raises mental health.

6) Pride of Ownership: This place is uniquely “yours.” You can customize it according to your likes and personality.

In addition to financial benefits, homeownership also brings significant social benefits. These not only pertain to the family, but extend to the communities, the state, and the country!

Financial Benefits

Buying a home is an investment in your future!

  1. Appreciation: On average, home prices are appreciating annually at a rate of 3.6%. This helps to create a safety net.
  2. Forced Savings: Your mortgage is like a forced savings plan! With each payment, you are reducing the principal of your loan.
  3. Home Equity: Homeownership builds equity every single month. You can later use that equity to start a business, send your children to college, etc.
  4. Net Worth: A homeowners’ net worth is 44x greater than renters! This gives you the financial freedom to invest.
  5. Stability: Rent prices increase 4% annually! A fixed mortgage payment allows you to save for future projects and guard against inflation.
  6. Tax Benefits: The government has created tax benefits to encourage customers to purchase. (Talk to your CPA to see which benefits apply to you).

Bottom Line

Homeownership is and will always be part of the American Dream! There are many financial and non-financial benefits to take advantage of when owning a home. If owning a home is part of your dream, contact a local real estate professional to help you with the process!

Karl Hess provides expert real estate services to residential buyers and sellers in Ocean County. Contact us today for more information on Ocean County Real Estate and for professional assistance navigating this complex home market.

As always, thank you for your time and feel free to get in touch if you have any questionsKarl Hess, Your Realtor on The Jersey Shore in Ocean County

 

 609-553-7926

Find Your Dream Home on The Jersey Shore in Ocean County!

www.TheJerseyShoreHomeFinder.com

 

 Licensed in New Jersey.  Keller Williams Shore Properties 

1400 Hooper Ave. Toms River NJ 08753 Phone: 732-797-9001

 

 

 

Comment balloon 0 commentsKarl Hess • March 27 2019 02:31PM
Become an Ocean County Homeowner
share
What are the Benefits of Becoming an Ocean County Homeowner? Every family has a list of important dates. We celebrate birthdays, anniversaries, pet adoptions…and the list goes on. For 64. 4 percent of households in the United States, this list… more
Barnegat Leaf Pick-up Schedule Spring 2019
share
Barnegat Brush and Leaf Pick-up Schedule Spring 2019 LEAF COLLECTION Please do not put leaves to curbside earlier than 7 days prior to your schedule week, and no later than 6:30 am on Monday of your scheduled week. The leaves will be collected… more
Price Your Barnegat Home to Sell
share
Is Your Barnegat House Priced to Sell Immediately? In today’s real estate market, with more houses coming to market every day and eager buyers searching for their dream home, setting the right price for your house is one of the most important… more
Are We Still Having Bidding Wars in Ocean County?
share
In a strong seller’s market, like the one we have experienced over the past few years, bidding wars are common and expected. This makes sense! A seller’s market is defined as a market in which the inventory of homes for sale cannot satisfy the… more
Buying a Home in Manahawkin
share
Finding the perfect Stafford Township Neighborhood Location, location, location. Half of buying a home is finding where you want to live. You may have found your dream house, but it might not be in your dream location. Here are the different… more
Buying a Home in Barnegat this Spring
share
Spring has sprung, and it’s a great time to buy a home in Barnegat! Here are four reasons to consider buying today instead of waiting. 1. Prices Will Continue to Rise CoreLogic’s latest U. S. Home Price Insights reports that home prices have… more