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The Advantages of Home Ownership
To most people, the
"American Dream" includes owning a home. And though the prospect
of buying a home is exciting, it can also be a bit overwhelming. I can
simplify the home buying journey for you.
If one purchase could give you freedom, privacy, stability and tax
advantages, you probably would make this purchase as soon as possible.
Owning a home provides these benefits and more:
- Mortgage interest is income tax deductible.1
- Real estate taxes are income tax deductible.1
- Unlike rent, which is a total expenditure, a portion of every
mortgage payment builds equity or value in your home.
- The accumulated equity in your home can be used later to
"move up" to another home, or borrowed against in the form
of a home equity loan.
- Rents may go up each year, but mortgage payments usually remain
stable.2
- Home ownership is a symbol of financial integrity, which improves
your credit rating.
- Owning a home helps establish roots in a community.
- Your home will offer more space than most apartments, both inside
and out.
- You enjoy more privacy in a home of your own.
- A home is likely to appreciate in value.
- The pride that comes with owning your home is perhaps the
greatest benefit of all. You're living the American Dream!
1 Consult a
tax adviser to determine the specific tax advantage that may be available
to you.
2 Fixed rate mortgages, principal & interest; taxes and
insurance if paid as part of the mortgage payment are subject to
inflation.
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