Owning your home: the American dream. But why are so many of us so obsessed with buying and owning our own Columbia, SC property? If you’re wondering whether to make your first home purchase, you’ve probably listened to the advice of almost everyone around you – but chances are you’ve still got reservations. Don’t worry, having doubts is normal. The more you know about home-buying, the less scary the process will be. So, here are a few reasons why we buy houses in Columbia, SC:
- Pride of ownership
There’s a reason why owning your home is the American dream: it gives you freedom. Whether it’s painting the walls any colour you want, adding permanent fixtures, or simply the security that comes with knowing you’ll always have a base in Columbia, SC to return to, we buy houses to enjoy that freedom.
Sure, renting is great, but it just isn’t the same. Home ownership is an investment into your future that gives you and your family a sense of stability and security wherever you go.
Owning your home is a great investment financially as well. Many of us buy houses because house values in Columbia, SC are consistently appreciating, so they work as a hedge against inflation.
- Mortgage interest deductions
Tax rates favour homeowners in Columbia, SC, so home ownership is a great tax shelter! As long as your mortgage balance is lower than the price of your home, mortgage interest is fully deductible on your tax return slip. In fact, for a large portion of the time you are putting down payments on your mortgage, interest will be the largest percentage of the payment.
- Property tax deductions
As a first-time Columbia, SC homebuyer, you will be able to deduct state and local real estate taxes, and pay your property taxes as part of your monthly mortgage payments. We buy houses to take advantage of the interest and property tax deductions that come with being a homeowner.
- Capital gains exclusion
If you’ve lived in your Columbia, SC home for 2 of the past 5 years, you can exclude profit from capital gains when selling the house. You can exclude up to $250,000 per person on the property title – that’s $500,000 for a married couple! You do not have to buy a replacement home or move up. You can exclude the above thresholds from taxes every 24 months, which means you could sell every two years and pocket your profit—subject to limitation—free from taxation.
- Preferential tax treatment
We buy houses to take advantage of preferential tax treatment towards homeowners. If you sell your Columbia, SC home and receive more profit than the allowable exclusion, that profit will be considered capital gains as long as you own your home for more than one year. Capital gains receive preferential tax treatment compared to income tax, with most paying between 15-20% in capital gains taxes, while the income tax rate is 22% or more for most taxpayers.
- Mortgage reduction builds equity
Each month, part of your monthly payment is applied to your loan’s principal balance, which reduces your obligation. The way amortization works, more of your payment goes toward the principal and less to interest each month. The amount of your payment going toward the principal is the lowest on your first payment and highest on your last payment. Therefore, the longer you are in the home, the more equity you are building with each payment.
Here at [company], we buy houses in Columbia, South Carolina for cash, so there’s no need to worry about finding a buyer on short notice! Our business model is to help homeowners who need to sell a house fast (especially houses that need work) by buying your house for cash… then we and our local partners fix up the property, beautify the neighborhood, and sell it “move-in” ready to a happy new homeowner.
We pay for all of the repairs.
We pay for the closing costs.
We do all of the work, so you don’t have to.
Our goal is to make the whole process no hassle for you, so you can move on with your life and put this house behind you.
We Buy Houses In Columbia, SC In Any Condition, Give Us A Try! Call Us At 803-887-3783 To Get A Fast-Fair Offer On Your House Today!
Know someone selling in New York? Let us know!