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16501 Ventura Blvd, Ste 101
Encino, CA 91463
818-345-9998
asher@asherestates.com

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Buying a Home

Purchasing a home can be one of the most significant investments you make. You're not only choosing your where you'll live, and the place in which you will bring up your family, you are most likely investing a major portion of your assets into this purchase.

Click here for a list of homes available in your area.

Excellent Investment

In general, homes appreciate about five percent a year. Some years will be more, some less. The figure will vary from neighborhood to neighborhood, and region to region. Five percent may not seem like that much at first. Stocks (at times) appreciate much more, and you could earn over six percent with the safest investment of all, treasury bonds.

Looking again

If you bought a $200,000 house, you did not pay cash for the home. You got a mortgage, too. Suppose you put as much as twenty percent down that would be an investment of $40,000. At an appreciation rate of 5% annually, a $200,000 home would increase in value $10,000 during the first year. That means you earned $10,000 with an investment of $40,000 and your annual "return on investment" would be twenty-five percent.

Of course, you are making mortgage payments and paying property taxes, along with a couple of other costs. However, since the interest on your mortgage and your property taxes are both tax deductible, the government is essentially subsidizing your home purchase.

Predictable Housing Costs

When you rent you can expect annual rent increases each year. If you get a fixed rate mortgage when you buy a home, you have the same monthly payment amount for fifteen, twenty or thirty years. Even if you get an adjustable rate mortgage, your payment will stay within a certain range for the entire life of the mortgage.

Freedom

When you rent, you are normally limited on what you can do to improve your home. You have to get permission to make certain types of improvements. It doesn't make sense to spend thousand of dollars painting, putting in carpet, tile or window coverings when the main person who benefits is the landlord and not you. Since your landlord wants to keep his expenses to a minimum, he or she will probably not be spending much to improve the place, either. When you own a home, however, you can do pretty much whatever you want. You get the benefits of any improvements you make, plus you get to live in an environment you have created.

Asher Farhoud Farzan-Kashani   |   16501 Ventura Blvd., Ste 101  Encino, CA 91463   |   818-345-9998