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What If Your Home Doesn't Appreciate in Value?
05/15/24
Most people see their homes as a place to live and as an investment, but the real estate market is volatile and in some areas home prices may not rise for some time. While that could make home ownership less attractive, there are still benefits. While any increase in value may be offset by inflation, your mortgage payments do create a form of “forced savings.” In addition, home mortgage interest is tax deductible, reducing your tax liability.
In some cases, renting is a better financial move than buying, but make sure you evaluate all the pros and cons – both financial and non-financial – so you make the right decision for you and your family. You may not make huge profits through home ownership, but at least your payments will go towards your equity, not your landlord's.
Ready to explore how Sunflower Bank can assist you? Speak to a personal banker at a branch near you, contact a specialist on our Private Wealth team, or find the right financial partner on our Commercial Banking team for your business needs.
This article contains general information only. Sunflower Bank, N.A. is not, by means of this article, rendering accounting, financial, investment, legal, tax, or other professional advice or services. It is not meant as a substitute for such professional advice or services. Before making any decisions related to these matters, you should consult a qualified professional advisor. Investment and insurance products are not FDIC-insured, are not a deposit or other obligation of, or guaranteed by the bank or an affiliate of the bank, are not insured by any federal government agency and are subject to investment risks, including possible loss of the principal amount invested.