Benefits of Home Ownership

• Building equity: Home ownership allows you to build equity with each mortgage payment. In fact, the equity that you build by paying down your home loan can be viewed as a kind of savings program.
• Tax benefits: Homeowners receive substantial tax deductions related to their mortgage payments. Both mortgage interest and real estate taxes are deductible from your federal and many state income taxes.
• Solid investment: Despite the appeal of the stock market, many analysts continue to believe that real estate is one of the safer investment options. Plus, as your home increases in value you can get low cost loans for any purpose by borrowing against the added equity (home equity loan).

While not the answer for everyone, the above benefits make buying a home something that every renter should consider.