Home > Home ImprovementThe Advantages of Home Ownership
Posted by nick_niesen in Home on November 8th Jason Williams Magic Jersey , 2010
Buying a Home is at the heart of the 聯American Dream聰. It can bring happiness and provide a solid foundation for you and your family. It has also proven to be a wise investment in recent years. It has many benefits, but the following three in particular 聳
Tax Breaks
When compared to other investments, few can generate the healthy and long lasting tax breaks that home ownership does. When you become a homeowner, there may be tax breaks that you can take advantage of that renters and non-homeowners cannot, the mortgage interest deduction being just one of them. In addition, the deduction of your real estate tax on your federal income tax return is a common practice. Some homeowners choose to use their homes equity to obtain Home Equity Lines of Credit (HELOC) or home equity loans. Interest on these loans may also be tax deductible. With investment real estate, additional tax advantages include the deduction of depreciation and other expenses. With proper planning you may receive tax advantages that last a lifetime. As always, consult with your own tax advisor as to the specific benefits of home ownership that apply to you.
Equity
A home is an investment that can, and usually does, increase in value over time. In some markets, home values have been rising dramatically in recent years (California, Florida, Nevada, Arizona, etc.). In other markets the rise has been more slow and steady.
In addition, you can use your own hard work to make improvements that will increase the value of your home. Each improvement that you make will add to the overall value of your home and your way of living.
As the value of your home increases, and the amount of your mortgage shrinks, you build equity. That is, the money that would be left over if you sold your home and paid off the mortgage. As mentioned above, you can borrow against this equity should the need arise. It聮s almost like a savings account that you live in.
Community
Moving into a home gives you a chance to meet new people, get involved in your community, patronize local merchants, and shape your new neighborhood. It聮s a way to put down roots and invest in your town. Home ownership provides a sense of permanence and a solid foundation for our lives, and the lives of our children.
Buying a home may be the single, largest investment you will make in your life. But there are so many benefits, some tangible and some emotional. If you are paying rent year after year you are missing out on the advantages mentioned above. Maybe now is the time for you to take the plunge and buy a home, condominium or townhouse and experience this part of the 聯American Dream聰. Choose a Realtor and get going today.
TOKYO, July 31 (Xinhua) -- Sharp Corp. announced Friday it had booked a net loss of 33.98 billion yen (274 million U.S. dollars) in the April-to-June period, marking the fifth straight year of red ink.
With sluggish sales of LCD displays for its smartphone sector weighing heavily on the firm's balance sheet, the Osaka-based electronics maker said Friday it plans to exit the TV market in the Americas and said it would sell its TV manufacturing plant in Mexico and license its brand to China's Hisense Group.
"Sharp has not been able to fully adapt to the intensifying market competition, which led to significantly lower profits compared to the initial projections for the previous fiscal year, and has been suffering from poor earnings performance," Sharp said in a statement referring to its ailing TV business.
The embattled electronics maker along with posting a disappointing net loss, also said Friday its group operating loss came at 28.76 billion yen, tumbling from a 4.67 billion yen profit booked a year earlier, with sales totaling 618.30 billion yen, a drop of 0.2 percent.
Sharps' sales of displays, including those for smartphones, plummeted 9.2 percent, as Chinese makers upped the competition and captured more share of the lucrative market.
Having lost its status as the No. 1 screen maker in Asia and its former ties with tech giant Apple Inc., the firm was forced to borrow around 2 billion U.S. dollars in May this year in the second bailout in three years, which has led to restructuring, including axing 1,000s jobs at the firm and offering early retirement to 1000s of others.
Sharp's President Kozo Takahashi said that the company would continue to "explore various possibilities" in keeping the firm's head above water, and said that ideas such as collaborating on joint ventures and projects with other firms, were being seriously looked at.
"The market environment is now even tougher than what we expected in May when Sharp sought financing, Takahashi told a news conference in Tokyo.
"We haven't yet made any specific decision, but we need to consider a wider range of options than we did back in May when we said we were definitely going to carry on with the LCD business in its current form."
"Our company is still in a severe management condition. We will continue to accelerate restructuring efforts to realize the medium-term plan announced in May," he concluded.
Sharp, however, maintained its full year operating profit forecast through March 2016 at 80 billion yen, compared to a loss of 48.07 billion yen a year earlier on sales of 2.8 trillion yen, an increase of 0.5 percent, stating that it still eyes a V-shaped recovery.
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