First Time Home Buyers



Purchasing Your First Home

For potential Boise homeowners, the decision to buy a home is one of the largest financial decisions they will ever make… and it’s riddled with emotions like fear, excitement, hope, and confusion.

It’s often confusion that often stops people in their tracks.

Given that housing expenses are unavoidable for most of us it’s worth considering the pros and cons of renting versus owning. Here are a few of the potential benefits of homeownership: 

  • Appreciation. The largest measurable financial benefit to homeownership is often the amount that your home increases in value over time. Appreciation helps build home equity, which is the difference between the market value of your home and the amount you owe on your mortgage. While your home value isn’t guaranteed to increase, historically most real estate increases in value over time. This is a significant part of a retirement strategy for many Americans.
  • Tax Deductions. While tax benefits are ever changing, many people have reduced tax liability associated with home ownership too. Mortgage interest, mortgage insurance, and property taxes are all items worth discussing with your accountant.
  • Painting. Parties. Say goodbye to the landlord who tells you what you can and cannot do in your home. Paint the walls any color you want. Have pets. Throw a party.

To apply for a Boise area Home Loan and find out more about whether you qualify call one of our Home Loan Specialists at (208) 388-0500 or apply online using the button below.

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