Rent payments can be unpredictable and typically rise each year, but most mortgage payments remain unchanged for the entire loan period. If the taxes go up, the increase is usually gradual. This stable housing cost is especially important in times of inflation, when renters lose money and owners make money.
2) Tax savings
Homeowners can be eligible for significant tax savings because you can deduct mortgage interest and property taxes from your federal income tax, as well as many states' income taxes. This can be a considerable amount of money at first, because the first few years of mortgage payments are made up mostly of interest and taxes.
3) Debt consolidation
If you need to, you can refinance a mortgage loan to consolidate other debts (an opportunity you don't have if you are renting). And the interest on this is also tax deductible.
Instead of having payments disappear into someone else's pocket, home owners are building equity in their own home. This is often one of a person's biggest investment assets. Each year that you own the home you pay more toward the principal, which is money you will get back when the home sells. It is like having a scheduled savings account that grows faster the longer you have it. If the property appreciates, and generally it does, it is like money in your pocket. And you are the one who gets to take advantage of that, not the landlord. You can then use this equity to plan for future goals like your child's education or your retirement.
5) It is yours!
When you own a home you are in control. You have the freedom to decorate it and landscape it any way you wish. You can have a pet or two. No one can pop in and inspect your home and threaten to evict you.
Where to Build
The Pocono Mountains Region has excellent educational opportunities and services as well as many exciting attractions and recreational activities throughout the year. With 2400 square miles of woodlands, mountains, lakes and streams, the Pocono Mountains are a natural choice for outdoor enthusiasts. There are seven state parks and 150 lakes to enjoy hunting, fishing or boating, outdoor adventures such as golf, skiing or white water rafting. There are cultural activities including museums, galleries, summer stock theater and music festivals all to enjoy throughout the year. The Poconos have something to offer everyone.
Allentown - 45 Miles
New York - 75 Miles
Binghamton - 93 Miles
Philadelphia - 85 Miles
Harrisburg - 125 Miles
Pittsburgh - 292 Miles
Long Island - 93 Miles
Scranton - 41 Miles
Airports Servicing the Pocono Mountains, PA:
Lehigh Valley International Airport - 215-226-1946