Real Insight : The Benefits of Home Ownership
By NextHome Staff
June 30, 2017
June 30, 2017
People are looking at more creative ways to get into the market. Consumers are teaming up to buy a home with family and/ or friends, families are looking to alternative housing options that are offered beyond the traditional detached property — perhaps a townhouse or even a condo is more suitable to their lifestyle — and some are even looking to areas/ neighbourhoods outside of the more well-known “hot pockets.”There are also several programs that can help assist with a down payment, and a realtor may advise as to your options. One notable mention goes to Habitat for Humanity GTA. Habitat helps low-income families achieve their dream of home ownership through decent affordable housing, and most recently TREB contributed $150,000 to a new home build for a local family at Habitat’s 140 Pinery Trail build site.GROWING YOUR WEALTH Home ownership will likely be one of the largest investments in your life. Home ownership can offer you a straightforward way to build your wealth and save for retirement. And, unlike other investments, you can live in your home as it provides a nest egg for your future. Plus, if your home is your principal residence, price gains are exempt from capital gains tax.
BE A PART OF A COMMUNITY Finally, your home provides you with the backdrop for all of life’s most important events. Owning your home means contributing to and becoming part of a vibrant community – this is the part of your investment that you just can’t put a price on.Owning a home in a neighbourhood you can call “home” buys you a sense of security and peace of mind that is truly priceless.So, whether you’re considering buying your first property, or you’re looking to downsize to a more manageable space, remember that home ownership is a great investment that you can also live in.
Larry Cerqua is president of the Toronto Real Estate Board, a professional association that represents 45,000 professional realtor members in the Greater Toronto Area. You can contact him at TREBpres@trebnet.com. For updates on the real estate market, visit TREBHome.com. If commercial property is what interests you, contact a TREB realtor by visiting TREBCommercial.com.
BE A PART OF A COMMUNITY Finally, your home provides you with the backdrop for all of life’s most important events. Owning your home means contributing to and becoming part of a vibrant community – this is the part of your investment that you just can’t put a price on.Owning a home in a neighbourhood you can call “home” buys you a sense of security and peace of mind that is truly priceless.So, whether you’re considering buying your first property, or you’re looking to downsize to a more manageable space, remember that home ownership is a great investment that you can also live in.Larry Cerqua is president of the Toronto Real Estate Board, a professional association that represents 45,000 professional realtor members in the Greater Toronto Area. You can contact him at TREBpres@trebnet.com. For updates on the real estate market, visit TREBHome.com. If commercial property is what interests you, contact a TREB realtor by visiting TREBCommercial.com.