MILLIONS
OF PEOPLE
enjoy the rewards of home ownership. Read the following
reasons in favor of buying a home. Think about which
advantages of home ownership are most important to you.
ADVANTAGES
OF HOME OWNERSHIP
A
HOME IS USUALLY A SOUND INVESTMENT
When
you carefully choose a home you can afford, the payoff can be great.
Each month when you make your house payment, you're building equity
in a place of your own. Equity is the portion of the property that
you actually own through your payments, versus the portion that you
still owe the mortgage lender. The longer you stay in your house,
the more equity you will have. And unlike most things you buy, a
home can actually increase in value as time passes, building more
equity. (But remember: there is no guarantee that your home's value
will grow; sometimes home values go down.)
HOME
OWNERSHIP OFFERS CERTAIN TAX ADVANTAGES
The
mortgage interest and real estate taxes are tax deductible, which
allows you to subtract part of your housing-related expenses from
your taxable income, which could reduce your tax bill.
A
FIRST HOME OFTEN LEADS TO A BETTER SECOND HOME
As
you build up equity in your current home, it is usually easier to
afford another home in the future.
YOU
GAIN THE SATISFACTION AND SECURITY OF HOMEOWNERSHIP
As
a home owner, you can decorate and improve your home the way that
best suits you. Owning a home may also give you a new sense of pride
in your surroundings. You and your family may feel stronger ties to
your community.
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