1. HIGHER NET WORTH – The Federal Reserve Bank report that home owners have a substantially higher net worth when compared to renters. Equity, appreciation, reduced taxes, stable monthly payments, higher credit ratings are the primary reasons for this very important ‘wealth gap’.
2. REDUCED TAXES – Interest payments and property taxes are legal deductions against your income and can legally lower the taxes you pay for as long as you own your home. PLUS sellers can exclude gains up to $500,000 every two years. Governmental policy clearly encourages home ownership! (Consult with your tax advisor).
3. STABLE MONTHLY PAYMENT – Your monthly payments are consistent over the life of your conventional loan. Rents have dramatically increased, and the demand will likely push them even higher over the years to come. PLUS interest rates are at historically low levels!
4. INCREASING PRICES – Property appreciation belongs to the homeowner and California home prices have increased for 60 of the last 70 years … PLUS you’ll be paying off your loan with every payment (instead of your landlord’s property!)
5. HIGHER QUALITY HOME – You can customise YOUR home and decide the quality/finish of the appliances, flooring, wall treatments and yard. You can not do this with a rental.
6. TAX CUT & JOBS ACT – Permanent corporate and long-term individual tax cuts is allowing consumers to spend more on housing; calls for repatriation of $3+ trillion in US corporate income held overseas and will be used for infrastructure investment also benefiting housing.
So… wonderful news! Well speculated news as of now, but it seems highly probable that Amazon.com has leased the recently vacated Saks Fifth Avenue building here in Downtown Santa Barbara. How exciting! It is, again, speculated the super tech/retail company will be offering its employees a wealth of office space for there R&D team on the second and third floors and a possible Amazon Go cashierless retail store on the main floor. Oh goodness, what news this is! #growth !
I obtained this information from a wonderful article on NoozHawk.com. You can read for yourself if you click here, and seems to be “unofficially” verified in that Amazon has also posted a few jobs on their own website found here for the Santa Barbara area relative to its popular Alexa device.