Bass Lake Realty

Bass Lake Real Estate Experts Since 1970

  • Buy
    • Bass Lake
    • Yosemite
    • Oakhurst
    • Coarsegold
    • Ahwahnee
    • North Fork
    • Map Search
    • Get Email Alerts
    • Featured
    • Advanced Search
    • Address Search
    • Listing ID Search
    • by Neighborhood
    • Search Shortcuts
      • Lots & Land
      • Under $150k
      • Mobile Homes
      • Short Sales
      • REO Bank Owned
      • Lakefront Homes for Sale
    • Login
  • Sell
  • Buyers & Sellers
    • Buying A Home
    • Selling Your Home
    • Log In
  • About
    • Why Choose Us
    • Meet Your Team
    • Local Services
  • Contact
  • Blog
  • Monthly Rentals
  • COVID-19
  • Bass Lake Weather

The American Dream

Happy Woman Holding Her Child

For the vast majority of American’s, owning a home is part of the American Dream and is the number one criterion for defining “the good life”.

Owning A Home is Part of “The Good Life”

According to a study conducted by the NATIONAL ASSOCIATION OF REALTORS®, 87 percent of those polled cited owning a home as the number one criterion for defining “the good life.” Owners and renters alike considered homeownership desirable for the following reasons: the pride of ownership, their dislike of paying rent, and the ability to change features of their homes to match their individual tastes and needs.

In addition, owning your own home provides a sense of security and well-being that’s hard to beat. Home is where we raise our families, have friends over for summer barbecues, paint the baby’s room pink or blue, and find refuge from the outside world.

Owning a home offers other advantages as well. For instance, as a homeowner, you have control over your environment. Not only can you change your home to meet your needs, but you also aren’t subject to the terms of a lease or a landlord. As a homeowner, you can experience the emotional and financial security that comes from knowing what your housing expenses will be from year to year. Unlike rents, which can increase annually, most mortgages have fixed or capped monthly payments. So, as a homeowner, you can have a much better idea of what proportion of your paycheck goes toward your home. Think of it as the ultimate savings plan.

Bottom-Line Benefits

And it only gets better. Homeownership is the primary component in the creation of wealth for many Americans. Data from Harvard University’s Joint Center for Housing Studies illustrate not only that the median net wealth of homeowners is 34 times greater than that of renters, but also that over half of that wealth is generated from home equity. As you pay down your loan amount each month, you accumulate equity, a growing ownership interest in your property. If you need funds, you can borrow against this equity in the form of a home equity loan. Further, interest on a portion of home equity is tax-deductible.

Most homes appreciate in value over time and can be a source of income for you, especially if you’ve lived in your house for many years. When you retire, you can sell your home if you need the funds or make use of a home equity conversion mortgage.

Finally, don’t forget about the significant tax advantages of owning your home. Interest on a home mortgage and property taxes are deductible. For most of us, mortgage interest provides the largest tax deduction. Also, a home is the single most important factor that determines whether you will be able to file a return that takes advantage of the wide range of allowable itemized deductions.

Home Buying Means Getting Back to the Basics

Recently, the CALIFORNIA ASSOCIATION OF REALTORS® surveyed homebuyers to find out what they considered to be important in the purchase of their homes. The largest percentage, 27 percent, considered the mere ownership of a home as the most important reason to buy. Moving to a better neighborhood (17 percent), wanting a larger home (10 percent), and realizing the tax advantages of homeownership (8 percent) were other reasons cited for buying homes. Seven percent focused on investment value as their primary motivation for homeownership.

Over the years, your home likely will be the best investment you’ll ever make. But more importantly, it will be the place that offers you and your family shelter, security and stability. That’s some return on investment.

Click Here for the Next Article in the Buyers’ Series, Are You Ready To Buy

Courtesy of the California Association of Realtors®

Join The Family!

Join the family and get useful, relevant and valuable information. You will receive exclusive updates, offers and featured properties. Stay abreast of the Bass Lake and Yosemite scene! Talk soon!!

*





*

Note: You must confirm registration so be sure to check your spam folder for the confirmation link. You can opt-out at any time.

Get Listing Updates

New Listing Notifications
What's My
Home Worth

Quick Search

$
$

Featured Properties


39135 Road 600, Raymond, CA 93653
IDX Image
$1,299,000
Beds: 5
Sq. Ft.: 6,500
Baths: 4
Board Logo
 
39135 Road 600, Raymond, CA 93653
IDX Image
$1,299,000
Beds: 5
Sq. Ft.: 6,500
Baths: 4
Board Logo
 
40370 Road 222, Bass Lake, CA 93604
IDX Image
$839,000
Beds: 4
Sq. Ft.: 3,584
Baths: 2 | 1
Board Logo
 

View all

Contact Us


Sorry we are experiencing system issues. Please try again.

© 2005 - 2021 Bass Lake Realty Inc · Send all USPS correspondence and packages to 54335 Road 432/#349 Bass Lake California 93604 · Office located at: 54335 North Shore Rd 432 (not a mailing address) · Bass Lake California 93604 · Bass Lake and Yosemite Area Real Estate · +1 (559) 642-3610 · +1 (888) 220-8633 · DRE No. 01477156 · Long Term Rentals +1 (559) 642-3610 · Privacy & Terms · Agent Login