- Tax benefits. The U.S. Tax Code lets you deduct the interest you pay on your mortgage, your property taxes, and some of the costs involved in buying a home.
- Appreciation. Historically, real estate has had a long-term, stable growth in value. In fact, median single-family existing-home sale prices have increased on average 5.2 percent each year from 1972 through 2014, according to the National Association of REALTORS®. The recent housing crisis has caused some to question the long-term value of real estate, but even in the most recent 10 years, which included quite a few very bad years for housing, values are still up 7.0 percent on a cumulative basis. In addition, the number of U.S. households is expected to rise 10 to15 percent over the next decade, creating continued high demand for housing.
- Equity. Money paid for rent is money that you’ll never see again, but mortgage payments let you build equity ownership interest in your home.
- Savings. Building equity in your home is a ready-made savings plan. And when you sell, you can generally take up to $250,000 ($500,000 for a married couple) as gain without owing any federal income tax.
- Predictability. Unlike rent, your fixed-rate mortgage payments don’t rise over the years so your housing costs may actually decline as you own the home longer. However, keep in mind that property taxes and insurance costs will likely increase.
- Freedom. The home is yours. You can decorate any way you want and choose the types of upgrades and new amenities that appeal to your lifestyle.
- Stability. Remaining in one neighborhood for several years allows you and your family time to build long-lasting relationships within the community. It also offers children the benefit of educational and social continuity.
Living In Bucknell
Bucknell Manor is a subdivision in Alexandria located in Fairfax County. Housing is primarily cape code style homes and a portion is also duplexes. Belle View Shopping Center is roughly 1 mile away to the east. Beacon hill mall is also about a mile away to the west.
Mount Vernon RECreation Center borders the neighborhood as well as Martha Washington Library. Mount Vernon District Park is on the outskirts of this subdivision. Biking paths are convenient and provide a great avenue for exercise.
The Huntington Metro is only a few short bus stops away. Bucknell sits parallel to the George Washington Parkway. Commuting to DC and other parts of Alexandria is easy and convenient.
McLean Patrol officers heading for the street, c. 1979
1978 Springfield Mall
Milk Man at Parkfairfax
1950 soda shop Mount Vernon and East Luray Ave, Alexandria, VA
Parade in Franconia Va. in late ’60’s
1970s Motor Officers. Fairfax County
Leaving Fairfax for the Spanish American War
McLean Patrol officers heading for the street, 1979
