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Portfolio Realty is a premier real estate firm serving Virginia, Maryland and Washington DC. The DC metro area real estate market demands high levels of skill, proficiency and knowledge. Whether you are eager to buy your first home, sell your nest egg, invest or relocate to the area, it is important to protect your investment by working with a local market expert.
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Reasons To Buy A Home

Reasons To Buy A HomeMost first-time home buyers are the same. They go into the home buying process not knowing anything about buying a home. They have listened to their friends, family, and co-workers for advice. They may have even seen a news segment or a headline of an article that gave them some sort of insight. Regardless, they’re still wondering if it’s a wise thing to do. Relax. That feeling in your gut is normal. Knowing more about why you should buy a home will make things a lot easier on the stomach and stress levels. Here are reasons that you should buy a home.

Home Ownership

Having the pride of ownership has been a popular reason for people to own a home. You can do whatever you want to the home to make it yours. Paint those walls red, blast the stereo and dance like no one’s watching, or hang that track lighting all around the house. It gives you the feeling of stability and security. After all, you’re making an investment in your future.


The real estate market moves in cycles, it could be up, maybe down, but over the years, the market consistently appreciates. Even if your home appreciates a few thousand dollars over 2-3 years, that’s a pretty good investment. Do your research of past sales so you make a wise choice purchase a home that has room to appreciate.

Mortgage Interest Deductions

Most people don’t realize that owning a home gives you tax deductions. All that interest that makes you cringe when you write that monthly mortgage check is fully deductible on your tax return. Little do you know, interest is the largest component on that mortgage payment.

Property Tax Deductions

The real estate property taxes paid for a first home and even a vacation home are fully deductible for income tax purposes. This is a great write off that you don’t even think of when owning a home.

Capital Gain Exclusion

This is where you investment counts big time. If you have lived in your home for 2 of the past 5 years, you can exclude up to $250,000 for an individual or $500,000 for a married couple of profit when you sell the home. It’s called capital gains. You do not have to buy another home. This means that you will not get taxed on that profit that you pull in! It’s a great rule for investment purposes and something to note when you want to flip houses.

Preferential Tax Treatment

If you happen to receive more profit than what the capital gains exclusion allows when you sell your home, that profit will be counted as a capital asset if you have owned your home for more than 1 year. Capital assets receive preferential tax treatment.

Mortgage Payments Builds Equity

When you make your monthly payment for your mortgage, part of the payment is applied to the principal balance. This, in turn reduces the amount that you owe on the loan. Let’s say that the reduction is about $1,500 so after a year of paying your mortgage, your balance that you owe on a $300,000 mortgage will now be $298,500.

Equity Loans

These types of loans are beneficial only to homeowners. The interest on these loans is much less than your typical credit card. The best part of the equity loan is that the interest on them is deductible. These loans can be used for home improvement, medical, college, or starting a new business.

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