:: Should I buy?
Advantages of Owning A Home
When you carefully choose a home you can afford, the potential payoff
is great.
A home is generally a sound investment.
Each month when you pay your mortgage, you’re building equity
in a place of your own. The longer you stay in your home, the more equity
you will have. A home usually increases in value as time passes, building
more equity. (But remember: buy well sometimes home values go down.)
Home ownership offers great tax advantages.
The mortgage interest and real estate taxes are tax deductible. That
allows you to subtract part of your housing-related expenses from your
income, which could reduce your tax bill significantly.
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 are better able to plan your housing costs.
Rent increases are unpredictable, and usually beyond your control.
You gain the satisfaction and security of ownership.
You can decorate and improve you home according to your own needs and
desires. Owning a home may give you a new sense of pride in your surroundings
and encourage you and your family to plant deeper roots in your community.
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