American Dream

The American Dream of owning a home is still alive. People still want a place of their own; where they can raise their family; share with their friends; feel safe and secure. Homeownership creates emotional and financial benefits.

The government supports that dream by allowing deductions for mortgage and home equity interest as well as property taxes. The capital gains exclusion on profits from a home is incredibly generous and a low long-term capital gains tax rate applies to excess profits.

It’s reported that some of the social benefits of owning a home include higher voter participation, better physical health, higher student test scores, lower teen delinquency, neighborhood stability and pride in the community.

If for no other reason, the decision to buy a home should be considered when it costs much less to own a home than it does to rent. With the unusually low available mortgage rates, the payment is generally less than comparable rent. However, the decision becomes more obvious when the other benefits are considered like amortization, appreciation and tax savings.

It’s not uncommon for the net cost of housing to be half of the actual mortgage payment. In most cases, it is significantly more to rent than to own which could amount to more than the down payment in the first year alone. Calculate your cost of Renting vs. Owning.

Please note: I don’t handle rentals or property management. I work with buyers and sellers, and that’s where I can help you most.

Market notes

Stay close to the market, without the noise.

Every so often I send a short, practical note: what Twin Cities homes did, prep tips that are worth the money, and neighborhoods worth a look. Sign up and you’ll also get this guide as a PDF to keep.

First name
Email

I’m most interested in (optional)BuyingSellingJust watching the market

Area (optional)

Yes, send me occasional market notes from David Olson, Twin Cities Property Finder. I can unsubscribe anytime.

A few notes a season, never daily. Your email stays with me.

It looks like you’re already on the list. Thank you! If something didn’t come through, call or text me at 952-314-9446.

Thank you! You’re on the list.

I’m glad you’re here. Your PDF copy of this guide is ready below, and a quick confirmation is on its way to your inbox. Whenever you want to talk about your own home or a move, I’m a call or text away.

— David

Download this guide (PDF)