The Advantage of Homeownership
Tax Advantages. Homeownership allows the deduction of not only mortgage interest but property tax as well. Homeowners
are eligible to deduct mortgage interest and property taxes from their federal income and in many cases their states' tax as well
Equity. Equity is the difference in what you actually owe on your home and the current market value. The equity in your home increases
when you pay down the balance on your home. It also increases as your home appreciates.
Investment Opportunity. When you buy your house, you are making an investment. Instead of paying a landlord, you are paying into an
investment that can payoff for you in the future. As the value of your house increases, so does your potential for selling your house for more money than
you paid for it. Any improvements you make to your new house are ways to increase the value of your investment.
It's Yours! The final advantage to homeownership is that the home is yours. You are free do do the landscaping as you wish. You can
paint and decorate anyway that you like. You are the lord of your land.