Many Benefits of home ownership
Tax Benefits: The government rewards by providing excellet tax benefits Mortgage interest deduction: The mortgage interest tax deduction is designed to make homeownership more affordable by reducing your tax bill. There are limits on the deduction, depending on how much you borrowed and when you bought the home.
Capital Gain/Appreciation : In real estate, the term appreciation refers to the increase in the value of a property over time. Historically, Real estate has had long term increase in value.This increase in property value or monthly rents can be seen as a profit once you sell your home.
Equity :Home equity is an owner’s interest in a home. It has the potential to increase over time if property values rise, or as you pay down your mortgage loan balance. You can calculate your equity by starting with your home’s current value, then subtracting the amounts you owe on any mortgages or other liens. Money paid as rent is gone but the mortgage paid builds equity.
Saving: Mortgage payment is a type of forced saving which you develop
Freedom: Owning the home give you the feedom to make it your own. Paint the wall, decorate it, get a dog, upgrade it to your taste
Benefits to children: Research show that homeowner”s children excel in school.
Stability :Living in one neighborhood allows to build relationship in the community
Home Home sweet sweet home 