How To Benefit From Home Ownership?

                                                    

 

 

 

 

 

 

 

 

 

 

 

Buying a home is a big decision. The financial and emotional stakes are high, but the rewards can make it all worth it. This material can help you prepare to start your home-buying journey.

Plain and simple, owning a home can improve your quality of life, provide stability and give you a sense of control you just can't get from renting. You have a place to live when you rent, but buying is something much deeper – and better.

The intangibles are tough to measure, but there are other benefits you can quantify:

Financial investment:
Your monthly mortgage payment creates equity for you, not your landlord.

The interest on your mortgage is a tax deduction:
While this isn't a reason in itself to buy a home, it's nice to get a break at tax time.

Fixed monthly housing payment:
If you opt for a fixed-rate mortgage, the monthly rate of your mortgage won't change for the length of the term.

Tax-free gain:
When it's time to sell your home, you don’t pay taxes on the proceeds of the sale that are above what you paid (with some restrictions – see information on capital gains)

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