Benefits Of Home Ownership
Owning a home is a sense of accomplishment for all you hard work you did to get to this point in your life. You can rent a home but buying a home is more gratifying.
The details you can not touch are tough to measure, but there are other benefits you can determine:
Paying your monthly mortgage payment produces equity for you, and cuts your landlord out of the equasion.
Your Mortgage Interest May Be Tax Deductable
Enjoy owning your own home by being able to write off some of your mortgage interest you pay over the course of the year.
Monthly Mortgage Payment May Be Fixed
If you apply for a fixed-rate mortgage, the rate of your monthly mortgage won’t change for the length of the term.
Time to sell your home? Avoid paying taxes on the proceeds of the sale that are above what you paid (see information on capital gains).
Choose a home that will grow with your family, the benefits of owning increase finacially over time. Choose a local agent who knows the neighborhood that you’re interested in, he will be able to answer your questions.